The loan can be used to help clear the current first charge or release equity for further property investment.
The product — which has a minimum loan size of £400,000 and maximum of £5m — has a term limit of 12 months and is secured as a second charge.
Hambros lends across the UK and can accept first-charge valuation retypes.
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“We are excited to push this product as all our research shows there is a real need for higher leverage on the development exit loans available today,” said David Travers, CEO at Hambros (pictured above).
“We want to support development schemes that have reached or almost reached completion and have been delayed due to Covid-19.”
Hambros was established in 2019 and specialises in mezzanine, second charge- and opportunistic first-charge loans.