The short-term property finance lender previously had a 2% fee applied if the loan-to-GDV (Gross Development Value) was over 50%.
Steve Larkin, Director of Development Finance at LendInvest, said its product had proved to be very popular with developers .
“We have big plans for development finance, and removing the exit fee makes it even more attractive to the small-scale developers who we are committed to supporting.
“These experienced developers know what they are doing, have exciting projects that need support, and stand to be the solution to the country’s housing crisis.
“We want to help get their projects moving.”
LendInvest recently announced it had a record month for development finance in March.
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