Far West Developments has secured a £4 million development exit finance deal to support the completion and sale of their luxury housing project in Cornwall. The project, which features six detached homes near Land's End, offers scenic views of the beach and surrounding seas.

Assetz Capital facilitated the refinancing of Far West Developments' existing loan into a more cost-effective development exit finance bridging loan. This move is intended to help the developer maximize profits during the final sales phase of the project. The 12-month loan provides more favorable terms for Far West Developments as they complete the sale of their remaining units.

Jon Pike, Relationship Director at Assetz Capital, commented on the deal: "Having been the original lender in the development of this high-quality site being 6, luxury detached houses, we are delighted to now offer our existing good clients continuity during the sales phase by way of a new development exit loan of £3.9m representing 68% LTV over the next 12 months to facilitate the residual sales period."

Assetz Capital continues to offer support for various financing needs, including development exit and bridging finance options.