Development exit finance (or sales period funding) is suitable to fund a development that is near practical completion but has not sold yet.

When a development is near practical completion but is awaiting release to market to sell, a developer may be forced to postpone the next land purchase or development until the sales funds have come through. Traditional banks can be reluctant to make a new loan until an existing development loan is fully repaid.

Exit finance gives a developer the funds to repay their bank so that they can maintain commercial continuity, to purchase the new site, arrange bank funding and retain the trades for the next development.

A property developer only has one opportunity to sell the developed units and should not have to sell them under pressure to repay the bank, or to be forced to sell during a quiet holiday period, or to accept discounted offers.

Structured exit finance puts the developer in control by providing extra time to control the timing of the marketing and sales of the scheme. And, with interest accruing daily, the loan can be repaid when it suits the developer.

If you live in the South West or South Coast of England or South Wales, you can arrange exit finance with Bricks Finance.