Page 4 - Supplement - Bridging & Commercial Magazine Issue 5
P. 4

    What is the Finish & Exit?
The Finish & Exit is designed for projects which are not eligible for a traditional developer exit because there are still works left to complete.
In general, the developer has
either run out of their existing development finance facility and cannot gain an extension from their current lender; the development finance facility has run out so there are insufficient funds to complete the project or the developer was relying on sales proceeds to fund the project which have not come in.
What can it provide?
The Finish & Exit can provide the following:
•Funding for near completed schemes
•Refinance of an existing development finance facility
•Drawdown of funds to complete the development
•Time to sell the units once the development is complete
•A potential pre agreed equity release

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