Funding for Property development
Funding is available for clients on a wide range of projects and is not entirely limited to those with previous experience.
No two property developments are alike, they all have peculiar aspects that require the attention of the Lender’s underwriters on an individual basis.
The following list covers the main areas of development funding currently available.
Develop to let
where the intention is to refurbish an existing property and retain it when the works have been completed. Funding can be agreed in order to purchase the property and to allow for the immediate release of capital once the property is ready for letting. Furthermore, the release of additional funds is based on the enhanced property value giving access to the initial funds invested.
Where a property is suitable security for a mortgage, but needs general upgrading or decoration without any structural works being required.
Where a property requires structural works, for example an extension, to enhance the value before letting or selling.