With the Bank of England base rate almost certain to rise again in September, Saxon Trust has decided that the time is right to offer borrowers a unique exclusive on their popular development exit product range.
For every “Finish & Sell” and “Market & Sell” loan submitted between now and the 30th September, that subsequently completes, they will pay 0.25% of the gross loan amount directly to the borrowers on completion.
Brian West (pictured), Head of Sales and marketing at Saxon Trust said:
“Following conversations with our broker partners and in the face of growing economic pressures and uncertainty we felt the time was right to offer an additional incentive directly to our developer clients.”
“Since launching our development exit products in April our average loan size has been very close to £2,000,000, which will generate a very useful £5,000 cash back under this new special offer. Add to this all the traditional benefits of lower rates, the opportunity to raise additional cash, loans up to £5,000,000, LTV’s up to 75% and the additional flexibility and breathing space developers so often need and the case for placing development exit cases with us has never been stronger.
Crucially none of these great strengths come at a cost to our brokers for whom a 2% minimum Proc Fee on exit loans remains standard. In challenging times, we are more determined than ever to find new ways to support both our brokers and borrowers. Watch out for further announcements.”