PROPERTY DEVELOPMENT FINANCE
Experienced Developer
We have excellent facilities for property development both for the experienced developers and those starting out for the first time
For experienced developers we have facilities which will provide up to 80% of land and building costs at very competitive rates and fees. In cases where a higher percentage is required this can be available if additional security is offered.
100% of both land and building cost is available where the lender will require a share of the profits as well as the usual rates of interest. No additional security is required in these cases.
No experience
In cases where the developer has no experience the normal facilities are 65% of valuation of the property as it stands, plus up to 100% of the building cost.
Drawdown
The drawdown of development funds is normally against either architects certificates or reinspection by Chartered Surveyors.
Interest Rates and Fees
Interest rates will depend upon the quality of the proposed borrower and the proposition and will be from 2.5% over base rate, and as these are short term borrowing propositions they will normally carry a 1% fee for the lender. Roll-up of interest is available.
