About
About these case studies
Who writes this
Case studies by Marcus Doyle, former developer, exit finance consultant. Marcus developed 40+ UK residential schemes over 15 years before stepping back from active development in 2023. Now consults case-by-case on dev exit strategies for developers nearing practical completion.
Anonymisation
Every case study is drawn from a real completed UK development exit finance deal. The following are always preserved:
- Facility size (to within ~10%)
- GDV, LTV, monthly rate
- Term and actual hold duration
- Outcome (on-plan, extended, refinanced early, covenant-stepped)
- Scheme type (flats, houses, mixed-use, refurb)
The following are always changed:
- Developer name and any identifying detail
- Exact location (broader region preserved)
- Lender name (category preserved — challenger bank / specialist / private credit)
- Consented scheme number
Why the numbers are educational, not transactional
No case study here should be treated as a benchmark for a specific deal you're working on. Every dev exit transaction is sponsor-specific, timing-specific, and location-specific. Rates change weekly, lender appetite changes monthly, and the difference between two "similar" schemes can be 20 basis points per month. Read the cases for patterns and pitfalls, not as a quote.
Editorial independence
Not a broker, not a lender, no paid placements. We occasionally point readers at Construction Capital when a reader needs live indicative terms — they have no editorial input on the case studies shown here.
Companion resources
- Dev Exit Playbook — mechanics and covenant negotiation guidance
- Calculator — all-in cost vs refi break-even