CapitalRise

CapitalRise funds its first development exit loan



CapitalRise has closed its first development exit loan within four weeks of officially launching the product.

The property lender revealed that demand for the new offering was extremely high, having received over 100 enquiries on the day of the launch.

An award-winning housebuilder used the new product to refinance an existing development loan, secured against a scheme in Warwickshire.

The funding will also provide the developer with an equity release to allow it to kickstart its next project.

Steffan Goold, head of lending at CapitalRise (pictured above), felt that with average selling times increasing, developers were holding completed stock for longer, tying up their equity.

“Our development exit loans not only refinance existing debt, but can also provide much-needed equity release and allow our clients to move onto their next project.

“As we grow, we continue to adapt to market conditions and the needs of our clients.

“Our new development exit loan offering has been hugely popular with a vast influx of enquiries and subsequent terms issued, showing there is a real demand for this in the market."

CapitalRise predicts to close a further four exit loans in May.


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