Sirius launches funding line for experienced developers

Sirius Property Finance announces that it has launched a flexible financing line for property developers.

The specialist debt adviser says it has secured exclusive access to funding that offers experienced developers a development exit to an 80% loan-to-value term product.

The product offers developers senior and mezzanine financing up to 80% LTV at a blended rate of 9.95%. It has a 2% completion fee, with loans available over a nine-month term. At the end of this, there is a secured term facility available from 4.45% up to 75% LTV.

Loan sizes range from £5m to £30m for newly completed projects, although this funding is not available for approved development projects.

Nicholas Christofi, Managing Director and Co-Founder of Sirius Property Finance, says: “At Sirius, we pride ourselves on championing small and medium-sized developers and we see far too many good projects fail due to slight funding shortfalls.

We are therefore proud to be able to offer this as a potential solution only to Sirius customers. It’s perfect for developers who have experienced delays and cost overruns, who want the flexibility to sell more units, or the security of longer-term financing pre-subscribed upfront.

Sirius Property Finance, founded by mortgage broker Brightstar Group in 2016, specializes in complex debt advice for structured, development and investment finance as well as commercial and regulated mortgages.

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