development finance magazine
After the project is finished and all properties are sold, the entire loan amount will be paid in full using the profits.
This short-term loan can be used to finance a new development project, before the existing project is sold. You can also use it to allow developers some time to complete minor work and find buyers.
Respecting building regulations is essential. You should also get the necessary planning permissions. Building Regulation Approval may be obtained through the Local Authority Building Control Service. If you are building your own home, you will be responsible for complying. If you employ a building contractor, however, responsibility will fall on them. In the end, however the owner can be served with enforcement notices if regulations are not adhered too.
After the project is finished and all properties are sold, the entire loan amount will be paid in full using the profits.
The type of project you are working on will affect the amount. Once you have established the funds you need, we will help you structure your financing to meet your needs.
You should have your land secured, and have a good idea of the final values and costs, and then you can call us to discuss the development project. During the call, we will review your financial situation and discuss the best financing products that suit your needs.
You will need to have professional inspections at every stage of your development. This is to make sure that all building regulations and work have been done to an acceptable standard. This is usually done by your architect or the NHBC.
You should consider additional costs when you apply for finance. Fees and costs to consider include lender fees, survey fees, exit fees, and legal fees.
