Development Funding is available for experienced and non experienced developers and used to build, renovate or convert a property or development of any size. These facilities can cover the purchase (or refinance) of the site or property, in addition to build costs, plus interest and fees.
We specialise in arranging senior debt, stretched senior and mezzanine finance up to 90% loan to cost and 75% of GDV.
Funding terms range from 6 – 48 months depending on your project and requirements.
We like to keep things simple and easy, so to get an idea of what you can borrow and at what rate, drop us an email with the information on your current project. It would be extremely helpful is you have [1.Development Appraisal and Cash Flow 2. A copy of the Planning Permission (if present. If not the proposed scheme will do) and 3. details of your experience.
We will then come back to you within 24-48 hours with an idea of what to expect. If you like what we have to say and want to proceed we can get you indicative terms and get your funding set in principle. Before full application we will need the following information:
1. Personal Asset and Liability Statements for the Borrower(s)
2. Company details, if applicable
3. Copy of Sales Particulars/Valuation [if available]
4. CV’s for the Borrower(s) [including previous experience]
5. Planning details
6. Financial appraisal
7. Confirmation of number of units, storeys, square footage and number of bedrooms in each property
8. Detailed build costs & cash-flow
9. Contractors’ details
10. Details of any section 106 agreement (if applicable)
11. Any information which may support the estimate of Gross Development Value such as SOLD comparables.
12. Solicitors’ details
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