Saxon Trust (previously Calmez Ltd) have a great New Year offer to help you get your new property development strategy going in 2020 with special rates on our Stretch Development Funding. Stretch Development Funding is a great way to make the most of your equity and get your first project for 2020 moving!
Apply now and get rates from 1.25%pcm (rolled up first charge) with 1.25% arrangement and 1.25% exit
What is Stretch Funding?
Property development stretch funding can enable a developer to take on additional projects, or large projects, by providing up to 90% loan to cost (LTC).
What are the Advantages?
Whereas 90% LTC can be achieved by combining a high street bank together with a mezzanine funder, with Stretch Development Funding a borrower only has one lender to work with. That means, of course, one set of administration, only one firm of solicitors to work with, one QS and one valuation report.
Why Use Stretch Development Funding from Saxon Trust?
- Saxon Trust was established in 2006 and so has excellent experience in property development funding with our projects having included church conversions, refurbishments, conversions as well as new build houses and apartments
- We can consider planning gain as part of your equity or other security
- Interest is rolled up and payable at the end of the term together with the capital
- We lend throughout England and Wales
- You will have one point of contact from the start of your application for a quick response to your requirements
Our lending Criteria
Developer equity contribution of a minimum of 10% of the total property development cost or able to provide alternative security
- Total facilities of £500,000 to £3,000,000
- Maximum term of 18 months
- Developers with a proven track record
- From a single property to residential development projects
- Planning permission in place
Start your application for development funding by calling us today on 0203 3710 511 or email us on [email protected]
*Applications are subject to our due diligence procedures and approval from our Credit Committee. We reserve the right to vary terms depending upon the status of the borrower and may also vary where an introducer / intermediary, such as a broker, are involved.