This in turn has proved to be very good news for our clients as we develop and maintain strong relationships and access to a large number of specialist lenders in this field. This is particularly the case where there is an identified ‘exit’ to the development site - such as pre-sold or pre-let properties - or where we can obtain approval of complimentary facilities to refinance the property upon completion.
Typically, finance is available up to around 70% of the Gross Development Value (GDV) of the property and, subject to allowances for finance costs to be met; this can sometimes help release up to 100% of the actual development costs of a project.
We often use this type of finance to the release of equity from other property or properties to help provide a package of support that provides the total funding for the scheme.
In addition, if required, our residential mortgage services are often used by residential property developers to help provide mortgages for the buyers of the homes they are developing.
Call us on 01482 638300, or e-mail firstname.lastname@example.org, to discuss your needs.
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