Property Development Finance can be used for Property Developers, Private Builders or even Self Build Projects. Our lenders have an excellent track record on providing speed, flexibility and reliability.
Development finance has never been harder to obtain, with high-street lenders virtually withdrawing from the development market. We now have to rely on specialists within this sector.
With the specialist lenders we use, we are still able to source Development Finance from £100,000 to £5Million.
Lenders will look to advance 100% of the construction costs on a drawdown/stage-payments basis. They would lend a percentage of the purchase price on a separate basis.
Credit problems including CCJ’s, defaults, and Mortgage arrears may be accepted. Our property development financiers are more interested in the quality of the project than the previous financial history of the applicant.
We prefer our applicants to have the relevant experience to successfully complete a Development Project. However, if you have no experience please don’t let that put you off. Your contractors and Project Manager may have the experience we need.
Interest rates for property development projects are generally charged from 0.75% per month to 1.5% per month (subject to the quality of the project), and interest may be rolled up and settled from the sale or refinance of the completed property.
Please note that these are not reulated by the FCA