Working with lender Pluto Finance, Archway Capital Partners were able to secure a facility leveraged up to 72.5% LTV, providing the client with a NET loan of £3.05m against a GDV of £4.59m.

The provision of these funds allowed the borrower to refinance the existing 70% LTGDV development finance facility in its entirety and use the remaining balance for cashflow purposes.

With a bespoke restructuring of Pluto’s fees, a reduced interest rate, and increased GDV, the developer was able to sufficiently refinance out the existing lender.

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The scheme itself comprises of 13 apartments, made up of two one-beds and 11 two-beds.

Sam Monk, director at Archway Capital Partners (pictured above), commented: “Leverage and lender flexibility continues to be the crucial factors determining the viability of development exit funding in the current market.

“We’re delighted to of been able to collaborate with Pluto to structure a facility delivering a much-needed refinancing solution for a quality developer client.

“Communication was outstanding throughout the process and Frankie Lu, director of bridge lending at Pluto, played a pivotal role in getting this facility structured and over the line within the firm timeframe provided to us.”