Eyewitness Works

Here, we arranged an £18.3 million loan to support the stabilisation of a 97-unit residential scheme. The 2-year term was designed to offer maximum flexibility by 1) Completing on the refinance whilst underwriting a 1.0x income-cover-ratio (with a view to this stabilising at 1.1x) and 2) Negotiated the removal of any early repayment charges.

This bespoke facility meant the client could reduce the cost of finance post-development and they had flexibility to sell or refinance later with out prohibitive costs on exit.