This can be arranged as a short-term loan for residential property developments, to help buy land or complete construction. It is then redeemed by either the sale or refinancing of the developed asset.
UK property development finance is an option used by developers to help cover a project's costs. This could include the renovation of an existing property, a conversion of property types or a new build.
The types of development finance available include:
A great aspect of this financing option is its flexible use by investors or owner-occupied developments. Whether it is your first project or an experienced developer, let us help you find the best rates.
Looking at how much you can borrow for this type of financing needs to factor in all the costs involved in a project, including the costs of the land, development, lender fees, professional costs (such as solicitors) and any contingency costs in place.
Depending on the lender, the typical amount you can borrow is:
The maximum term you can take out development finance is between 12–36 months.
This form of financing is always tailored to a specific borrower's requirements and their project's specifics. The key stages in the process for development finance / development loans are:
Using our long-standing relationships with the UK's top lendings, and our track record of excellence within the industry, you can be sure that we will compare and secure the best development loan rates.
We have you covered; get in touch for any advice or to discuss the wide range of financial services we provide, whether you are:
Given that short-term loans, including development finance, are typically more expensive forms of borrowing, it is essential to consider your exit strategy before committing to a finance package.
For example, if you expect to be able to refinance by a particular date, but development work is held up because of a planning issue or utility delay, you could be left at risk if that delays your ability to get a new finance deal approved.
Please note that specialist finance of this type is not usually regulated by the Financial Conduct Authority (FCA); therefore, our funders can afford to adopt a more flexible approach to assessing deals. Whatever your situation, give us a call to see if we can help.
As an FCA-regulated broker, we will only recommend development finance if appropriate for your particular circumstances. If it is not, we will still suggest alternative options for short-term finance that are more suitable.
The quickest way to have your short-term finance enquiry assessed is to telephone one of our advisers on 01738 583008 or complete the online enquiry to start the ball rolling.
Commercial Mortgages up to 75% LTV are also available, with funding available from High Street and off-High Street or non-traditional lenders.
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