Magnet Capital boosts development finance with higher LTVs and larger loans
By Bridging Loan Directory
Magnet Capital has announced improvements to its development finance offering, intended to help brokers better support their clients.
From today, brokers can benefit from 100% of development costs, including professional fees, and a larger day one amount of 70% loan-to-value (LTV).
Loans now range from £250,000 to £4 million, with a loan-to-gross development value (LTGDV) of up to 65%.
Additionally, projects can accommodate a maximum of 20 units, providing greater flexibility and opportunity for developers seeking comprehensive development financing solutions.
Sam Howard, CEO of Magnet Capital said:
“The updated criteria reflect our ongoing commitment to supporting SME housebuilders across the UK.
By giving brokers the tools they need to better help their clients, especially in a market where timing, certainty, and cashflow are everything.”
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