Client type: Property developer
Loan type: Development exit bridging finance
Amount lent: £340,000
Location: Dudley
Term: 12 months
Exit strategy: Sale of the property
The challenge:
A property developer had completed a new-build house in Dudley but needed additional time to secure a sale. With an existing charge to clear, the client required a bridging finance solution that would release funds quickly and provide a straightforward route through to the eventual sale of the property.
What they needed:
- Funding to clear the existing charge holder.
- A small equity release.
- A quick completion to meet their immediate funding requirements.
- A clear exit strategy through the sale of the property.
Our approach:
Goldentree provided a £340,000 development exit bridging loan against the newly built property. A desktop valuation was undertaken, helping to support the assessment process.
Our team worked to keep the transaction moving, with the client receiving a credit-backed offer letter on 7th August and the loan completing on 3rd September.
Our in-house solicitors supported the legal process throughout, helping to make the transaction as straightforward as possible.
Funding solution:
The 12-month bridging facility released the full £340,000 on day one. The funds were used to clear the existing charge holder and provide a small equity release, giving the developer additional time to sell the property.
The result:
The £340,000 facility completed in just 27 days from offer to completion.
With a desktop valuation and support from Goldentree’s in-house legal team, the client secured the funding needed to move forward while working towards their planned exit through sale.
At Goldentree, we understand that sometimes a completed development simply needs more time to sell. Our bridging finance solutions are designed to support property professionals with practical funding options tailored to their circumstances.
Discover our Bridging Finance Solutions today or speak to the team.
