Avamore Capital increases maximum bridging loan size to £25m

By Bridging Loan Directory 17th April 2024

Avamore Capital has recently announced an increase in the maximum loan size of their bridging finance offering from £7.5 million to £25 million.

This move aims to provide innovative solutions to real-time issues that are currently underserved in the market.

The increased loan size now offers property developers a great opportunity to access more capital to bridge the funding gap.

Avamore Capital offers development exit bridging loans tailored to suit the needs of each borrower, with loan terms starting at 3 months but can reach up to 18 months.

This product is suitable for individuals or developers who may need to purchase a property quickly or for an acquisition of a potential development site with planning consent.

It can also be used when buy-to-let finance is unavailable, or when borrowers need to refinance a completed development facility to release equity for the acquisition of another site.

Avamore Capital offers the option of net sales proceeds upon each sale, enabling developers to secure their next site without having to redeem the loan before realising their profit from the project.

This can give them a competitive advantage and allow them to continue building their portfolios without any delay.

Another benefit that Avamore Capital offers is the option of BMV transactions up to 85% of the purchase price.

With up to 75% LTV, and fixed or floating rates available, Avamore Capital is committed to providing the best solutions to help property developers face setbacks when it comes to starting their next project due to a lack of funds.

Adam Butler, Head of Sales & Marketing at Avamore Capital, said:

“I am extremely pleased to see the improvements we have made to our bridging proposition. We are always speaking to our broker partners to find underserved areas in the market and how we can help.

In the last 12 months we have seen a real increase of larger bridging loan requests with feedback being there has been a lack of options in this space.

This has especially been the case for many developers either needing more time to sell units or the continued challenges they face in refinancing a development or portfolio.

Furthermore, many mentioned the need for clients to replenish their cashflow enabling them to secure their next site quickly with viable schemes become less available than in previous years.

Avamore continues to do what it has always done, providing value-add products and equipping our broker partners with the right tools to support their clients with solutions to real-time challenges.

Watch this space for more exciting news coming soon.”