Acceptable schemes include:
Development experience is always preferred, however first-time developers can also get finance.
We can finance:
Affordability and repayment
Repayment is typically on an interest only basis. Interest can be serviced monthly, or can be rolled up and deducted from the loan amount. Ultimate repayment comes from the sale or refinance of individual properties.
Ownership Structures
Customers are usually builders who are constructing themselves, or can be project managers/professional developers who have brought in a builder in to complete the scheme on their behalf. Acceptable customer types include: Sole Trader, Partnership, Limited Company (Ltd) or Limited Liability Partnership (LLP).
Loan terms and lending criteria
Lending terms are based on the current land value, development costs and completed property value (GDV). Standard financing is available up to 100% of the build costs and 70% of the GDV.
Pricing and fees
Loan terms are usually capped at 2 years and interest rates are quoted monthly. Pricing can range from 1-2% per month.
