What is development exit bridging?
Development exit bridging refinances a development or refurbishment loan when the project is finished or nearly finished but hasn’t yet been sold or refinanced. It repays the original facility, buys time to exit on your terms, and avoids the higher cost of running a development loan past term. Berkeley Credit lends from £50,000 to £25,000,000, for business and investment purposes, with a same-day decision.
Projects overrun — that’s normal, not a failure. The problem is that development and refurbishment loans are expensive to hold once works are done, and even more so past term. A development exit bridge replaces that facility with a cleaner, often cheaper loan against the finished asset, giving you the months you need to sell or refinance without a fire sale.
We assess the finished or near-finished asset and your exit. The closer the project is to completion, the more straightforward the re-bridge. Acceptance is subject to underwriting.
Can I re-bridge a part-finished project?
Often yes, depending on how far along it is and the exit. We assess the asset in its current state and the route to completion and sale or refinance.
Why not just extend my development loan?
An extension is often at a higher or default rate. A development exit bridge can be cheaper and gives you a clean term to exit properly.
Berkeley Credit Limited is registered in England & Wales (Company No. 16111009) and with the FCA under the Money Laundering Regulations (No. 1029007); not fully FCA authorised; no regulated advice. All lending is for business and investment purposes only, on property the borrower does not occupy, and subject to valuation, legals and underwriting.