Development FinanceDevelopment Finance is a short term finance option to provide funding for building projects ranging from single builds to multiple units.
The finance can be used for both the purchase and development of land and / or property and 100% of purchase and development costs can be made available.
The development funding can be released in stages to help manage and assist projects in a timeframe that suits you, with an 18-month timescale.
Interest is only charged on monies actually drawn and the maximum loan is agreed at the beginning and is based on the overall costs and end value.
Property development loans are a type of short-term lending that allows a developer to finance renovation or refurbishment of a property.
In the current tough economic climate you must be able to demonstrate very strong credentials to secure a loan, having one or more of the following:
Property development finance tends to have higher set-up fees than commercial mortgages. You may be able to get a commercial mortgage that will lend on property development. However, the distinct advantage of a specialist short-term loan is that you may be able to get the funds you need quicker, over a shorter term (where the loan is easier to redeem if you intend to develop and sell).
Development Finance can be used for:
Why not talk to us about how we can help you with upcoming projects. Contact us today for a no obligation chat.
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