Positive Commercial Finance secures semi-exclusive development finance product



Positive Commercial Finance has secured a semi-exclusive development finance product from a new-to-market lender.

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The product — available for residential schemes in England and Wales — offers loans from £500,000 with no maximum loan size at up to 70% LTGDV or 85% LTC.

It features a rate of 8% per annum, charged against the drawn sum, on terms up to 24 months, and includes a 2% arrangement fee and 1% exit fee.

A small element of commercial can be considered in a mixed-use scheme.

John Waddicker, director at Positive Commercial Finance, said: “We believe both of these products to be market-leading, given the leverage on offer.

“We are delighted to offer these products on the lender’s behalf and look forward to a long and fruitful relationship.”



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