- New product has no arrangement fee and refunds of valuation and legal costs
- Loan sizes starting from £10 million
- 75% Loan-to-Value Sales Period Loans
- Rates from 5.95% over Bank of England Base Rate
Cynergy Bank has unveiled a new bridging finance offering for UK property developers, providing funding with no arrangement or exit fees and reimbursing valuation and legal expenses once the first unit has been sold.
The initiative is designed to support developers navigating political uncertainty and a cooling property market. With minimum loan sizes from £10 million, the product is structured to meet the needs of developers undertaking substantial and complex schemes, underscoring Cynergy Bank’s commitment to backing high-value projects.
Amid muted buyer confidence, the bank is offering up to 75% Loan-to-Value bridging finance on completed residential developments. These development exit loans enable both refinancing and equity release, while the refund of valuation and legal fees offers a cost-efficient source of liquidity at a time when financial flexibility is crucial.
Gerard Morgan Jackson, Executive Director at Cynergy Bank, said: “At Cynergy Bank, we understand the challenges developers are facing in today’s market. Our new bridging finance product is designed to remove unnecessary barriers to liquidity, meaning our clients can focus on delivering high-quality developments and achieving strong returns.”
