Hodge has launched a new development finance option to provide property developers with the opportunity to access additional development finances.
Stretch Senior will offer residential and commercial property developers the opportunity to access additional leverage when using a Hodge development finance facility.
It has been created for experienced developers and offers loans of up to £5m over a 24-month term, with up to 88% loan to cost and 75% loan to gross development value.
Hodge head of development finance Gareth Davies says: “Stretch Senior provides a fast, seamless, and cost-effective option for customers who require access to additional funding where a Hodge senior development facility is also taken out.”
“The Stretch Senior option offers competitive pricing with no additional diligence costs, whilst customers will continue to deal with their existing dedicated and experienced team at Hodge,” Davies adds.