Funding 365 and Clifton Private Finance deliver £4m development exit bridging loan

Funding 365 has completed a 75% LTV bridging loan with an interest rate of 0.79% per month to provide an experienced developer borrower with essential extra time to market and sell their properties.

Introduced by Clifton Private Finance, the £4 million loan is secured against 6 new-build houses in North London for a term of 12 months.

The loan is under Funding 365’s versatile Residential Bridge product which offers bespoke solutions of up to £5m+ on properties across England and Wales with no admin fees, exit fees or ERCs.

Katie Spitz, Senior Underwriter, Funding 365 said:

“This was a classic development exit proposition which allowed us to deliver a 75% LTV loan at a highly competitive rate of 0.79% per month.

The experience of working with Fergus and the Clifton Private Finance team was excellent, once again.

They’re always available to smooth the path for their clients and their communication is first class.”

Fergus Allen, Head of Bridging, Clifton Private Finance added:

“Working with Katie and the team at Funding 365 is always a pleasure and this loan was a great example of the flexibility and exceptional service they offer.

Funding 365 took a view where it was required and reduced their pricing to fend off competition.

The client and I were delighted with their can-do attitude, quick responses and overall enthusiasm to lend.

We’ve had a lot of success with Funding 365 this year and look forward to building on that relationship into 2025.”