Here at Clearwell Capital, we also pride ourselves on our premium standard of customer service, and pride ourselves on responding to 86% of applications within 24 hours of receiving them.
We have also reduced our processing time to an average of 4 - 8 weeks, which is one of the fastest you’ll find in the industry. Once a site visit has been undertaken, it typically takes our expert teams less than a week to secure credit committee approval for your stretch senior loan.
This means that we can confidently guide you through the process while being mindful of the time-sensitive nature of your project.
Talk to us today to see how much you could borrow and take the first step towards a supportive, end-to-end finance partnership.
What is your maximum loan-to-value on Senior Development Loans?
Clearwell offers a stretch senior loan that provides loans up to 90% of Total Costs and 70% of the Gross Development Value.
How quickly can Clearwell complete a Senior Development Loan?
Clearwell will always aim to complete as quickly as possible however timings do need to be realistic. Typically, a senior development loan takes between 6-8 weeks to complete, however, our record stands at having completed a Senior Loan transaction in 9 working days.
Does Clearwell Capital use the 90-day or 180-day valuation amount when assessing a Senior Development Loan?
No, Clearwell uses the full valuation amount based on an unrestricted open market sale.
What is the interest rate on Development Finance?
Clearwell offers interest rates from 6.5% over the Bank of England Base Rate.
What is Development Exit Finance?
Development Exit Finance provides developers with a longer sales period than they typically have left on their existing Development loan, which was utilised for the construction work. The Development Exit loan would repay the existing lender on a project that is substantially or wholly complete and provide a new loan term to allow for sales or refinance.
Please get in touch with Callum, our expert on Stretch Senior Finance.
