Catalyst has moved into the development finance market with a new stretch senior product.
Offering high leverage lending up to 95% Loan to Costs (LTC) including interest/75% Loan to Gross Development Value (LTGDV). Interest rates are from 7.95% pa.
Chris Fairfax (pictured), managing director at Catalyst, said: “We are very excited to launch into the development finance market. In many ways this is a natural progression for Catalyst, being an established lender of refurbishment bridging and development exit finance.
“This is a much-anticipated launch; we have listened to the UK’s leading packagers and intermediaries, asking them what they need for their property developer client base. Strong demand exists for a 95% LTC product, for residential and mixed-use schemes, combined with a competitive rate and the ‘can-do’ approach to lending my team are known for.
“For this initial launch we are focussing our lending on the South; sites in Berkshire, Bristol, Buckinghamshire, Devon, Dorset, Hampshire, Oxfordshire, Somerset, Surrey, West Sussex, and Wiltshire. We will roll-out to the rest of the UK in the future. Being able to offer our existing broker partners and their clients another great funding option personally makes me very proud.”
Tom Clark from Napex Finance added: “As a business, Napex have hugely enjoyed our relationship with Catalyst since they entered the market. They continually bring to market products that are needed and not just copying the rest.
“This development product delivers in four key areas for us that will be useful to our clients and is much needed in the market.”
