Client Background
An experienced South Wales property developer with more than 40 completed units had sold the final plot of their latest scheme – a newly built five-bedroom residential home.
Challenge
Completion was delayed due to HMLR registration issues, preventing the client from accessing capital needed for their next project.
Solution
Cornerstone arranged a £380k development exit bridge at 85% gross, secured against the contracted sale.
Terms were credit-approved within 24 hours, and the facility completed in 21 days, including the Christmas period.
Outcome & Additional Value
The client was impressed by the speed and smoothness of the process.
Since this deal, Cornerstone has completed three additional transactions for the developer, who has also referred further clients.
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