Five topics on UK development finance structure: senior debt at LTGDV cap, mezzanine and pref-equity layering, JV waterfalls, bridging on GDV, dev-exit switch.
Which constraint binds first. Q2-2026 caps 60 to 65 percent LTGDV / 75 to 80 percent LTC.
Open →Senior 8 to 10 percent vs mezz 12 to 18 percent. Inter-creditor terms.
Open →Pref and promote waterfalls. Land-owner vs developer split.
Open →Bridge sized on GDV 70 to 75 percent. When bridge-to-dev fits.
Open →When dev-exit beats the dev facility. 0.6 to 0.95 percent pcm Q2-2026.
Open →