HTB completes £3.3 million exit facility in five weeks

New funding ensures refinancing for completed homes in Gerrards Cross

HTB completes £3.3 million exit facility in five weeks

A property developer in Gerrards Cross, Buckinghamshire, has secured a £3.3 million development exit facility from Hampshire Trust Bank (HTB), enabling them to refinance existing finance and focus on selling three newly completed homes. 

The transaction offered the developer additional time to market the properties and raised funds for future projects. The site includes four homes valued at £5.15 million, with one already sold off-plan and three still on the market. 

Introduced by Complete FS, the deal was finalised within five weeks, with funds released on 20 December. HTB worked quickly to meet evolving borrower needs, including last-minute adjustments to sale proceeds and land annexation, to ensure the facility met its deadline. 

Barry Ireland (pictured), business development manager at HTB, noted that the transaction involved adapting to tight deadlines and shifting requirements, such as changes to sale proceeds and land annexation.

“This case presented several challenges, from the evolving nature of the borrower’s requirements to the tight timeframe as we approached the Christmas period. The borrower needed flexibility, including adjustments to sale proceeds and land annexation, which required the team to move swiftly and decisively,” Ireland said.

With the facility in place, the developer can focus on marketing the remaining properties and planning future projects.

“HTB’s ability to deliver this deal within such a short timeframe—especially given the last-minute changes—was exceptional. Their collaborative approach and clear communication ensured the borrower was reassured and the deal could proceed smoothly,” said Bob Hope from Complete FS.