Cynergy Bank has introduced a new bridging finance product featuring no arrangement fees, no exit fees and reimbursement of valuation and legal costs after the sale of the first unit.
This initiative aims to support property developers amid current political uncertainty and a slowing market. The product targets minimum loan sizes of £10 million, providing support to developers handling larger, more complex transactions. This also reinforces Cynergy Bank’s commitment to supporting high-value, ambitious projects.
Cynergy offers up to 75% LTV bridging finance on completed residential developments. The development exit facilities not only enable equity release and refinancing but now also include refunded legal and valuation fees.
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.”
