We understand financial flexibility is key when it comes to property development and want to ensure you have access to the right lending solutions at the right times to help you achieve your development goals.
Choosing Stretch Senior with Hodge provides the opportunity for experienced developers to access additional leverage alongside a Hodge development facility, saving you both time and money and the benefit of dealing with just one provider for a fast and seamless experience.
Working with Hodge
Projects come in all shapes and sizes, and we’ll work with you to make sure our development loans are tailored to support your ambitions.
Our expert team have ‘through the cycle’ development experience, so we’re well placed to support you, whichever stage your project is at.
We’re a small team, close to the decision makers, which means you can expect a quick and effective service, with minimal hold-ups along the way.
We offer residential and alternative residential development finance of up to £10m on single transactions to individuals, partnerships and limited companies.
At a glance
Here’s an overview of our Stretch Senior Development Finance option. From our key criteria to the type of development projects we can offer Stretch Senior Development Finance for, you’ll find all the information you need here.
- Available to experienced residential and commercial developers – individuals, sole traders, partnerships, LLPs, limited companies, PLCs
- Can only be provided where Hodge is the senior debt provider
- Maximum debt amount across both senior and stretch up to £10m
- Loan to Gross Development Value (LTGDV) – up to 75% (65% on traditional senior debt)
- Loan to Cost (LTC) – up to 88% (80% on traditional senior debt)
- Term – up to 24 months
- Arrangement fee – from 2%
- Exit fee – from 2%
- Interest margin – from 9%
- Interest basis – Bank of England Base Rate
- Available across residential and commercial developments
- No requirement for additional documentation – all Hodge lending can be arranged via one facility agreement
- No additional diligence requirements – one lawyer, one valuer and one project monitor required for all development finance
- No profit share requirement
Latest from Hodge
Subject to status and affordability. Terms and conditions apply.