Funding for new build and heavy renovation projects up to 90% LTC

Development stretch finance provides developers with a means to spread their capital across a greater number of projects or to fund larger projects without a requirement for a separate mezzanine funder. Funds are secured by a first charge on the subject site with a high loan to cost ratio of up to 90% meaning less equity is required from the developer. Up to 100% of costs can be covered in some circumstances with additional security.

High street senior lenders often restrict their lending to 60% of costs (i.e. site plus build costs) whereas Saxon Trust can provide a facility of up to £5,000,000 at a ratio of up to 90% of costs (with up to 100% in some instances where additional security is provided). Stretch funding can aid a developer's cash flow and enable more, or larger, projects to be taken on.

Saxon Trust can tailor bespoke stretch funding with a blended rate that will reduce costs whilst still providing the facility necessary to support the development.