An investor needs to secure a developer exit loan for six flats valued at £2.7 million which are due to be completed within the next few weeks. They’re looking for 75% LTV and have had two offers from other lenders.
They approach a broker who has previous experience with InterBay to see if they can help them find a better deal. The broker contacts their local specialist finance account manager (SFAM) to discuss their client’s case. The SFAM tells them about our developer exit loans which are suitable for residential developments that have reached practical completion.
We review the property and make a quick decision, enabling the broker to submit an application in principle and terms on the same day.