Another way to fund the gap
When a client has sold off-plan and the senior facility will not stretch far enough, released deposits can close the gap without adding another layer of debt.
When to think of it
- The client is selling off-plan, or about to launch sales
- There is a funding gap above the senior facility
- Mezzanine at 12-20% a year is squeezing the numbers, when bond premiums typically run at around 4-6%
- The senior lender will not allow mezzanine
- A live scheme needs more cash than planned
- The client wants to reassure buyers about their deposits
It sits alongside senior debt rather than replacing it, and we check early whether the facility agreement needs the senior lender's consent.
How referrals work
Introduce the case
Use the terms form or email us. A few scheme details are enough to start.
We handle the bond
We take the case to market and work through underwriting and security with your client.
You stay in the loop
You keep the client relationship and we keep you updated through to issue.
Introducer agreement
We work with brokers under a written introducer agreement that sets out how introductions are made and how you are paid. Any payment to you is disclosed to the client. Ask us for a copy of the terms.
What helps us move quickly
The client's recent accounts, the appraisal and build programme, the sales schedule, the senior facility letter and the warranty provider. You can send what you have and we will ask for the rest.