Specialist mezzanine finance for Devon's developers

Development gap funding across Devonshire

Across the 8 Devon towns we monitor, 1,106 residential units are moving through live planning applications, an estimated £327m of gross development value, with 93 percent of decided relevant applications approved over the last 12 months. Plymouth recorded 3,118 sales in the last 12 months, while Exmouth carries the county's strongest pricing at a median of £320,000.

That data is not decoration: it is how we underwrite. A mezzanine loan is a view on whether a scheme will sell at the price its appraisal claims, so we track every live application and recorded sale in the towns above before we price a Devon deal. The same numbers are published openly in our UK development pipeline tracker, where Devon currently ranks number 15 of 48 counties by pipeline value.

Devon has two separate coastlines, on the Bristol Channel to the north and the English Channel to the south. It contains Dartmoor and part of Exmoor, the upland moors that feed most of the county's rivers.

The product itself works the same in Devon as everywhere we lend: your senior lender keeps first charge and funds the majority of cost, our mezzanine finance takes a second charge over the next slice, and your equity requirement falls, typically from 35 percent of cost to 5 or 10. Terms run 6 to 36 months with pricing indicatively from 12 percent a year, and a complete enquiry gets a term sheet inside 48 hours. Model your own scheme with the leverage calculator.

Devon's development pipeline, measured

Monitored towns only; data refreshed 5 July 2026 from HM Land Registry and local planning authority records.

Where we lend in the county of Devon

Exeter

529 units sit in Exeter's live planning applications, an estimated £159m of GDV. The median sold price over the last 12 months is £300,000 (flat 0% year on year), across 1,242 recorded sales. Schemes here are underwritten against that evidence, not against optimism.

Newton Abbot

518 units sit in Newton Abbot's live planning applications, an estimated £151m of GDV. The median sold price over the last 12 months is £295,000 (down 1.7% year on year), across 1,703 recorded sales. Schemes here are underwritten against that evidence, not against optimism.

Tiverton

59 units sit in Tiverton's live planning applications, an estimated £17.5m of GDV. The median sold price over the last 12 months is £280,000 (down 6.4% year on year), across 879 recorded sales. Schemes here are underwritten against that evidence, not against optimism.