I want to purchase properties and make improvements before I sell them. Can you provide property development financing? We can finance these projects, but bridging finance is often a better option.
To avoid any delays, you should submit your application as soon as possible. This process can be complicated and can lead to delays if new information is discovered. While you wait for planning permission, our advisers will arrange your application. The type of scheme and level of work involved will determine the best product. Contact our team today to discuss.
We can finance a portion of the purchase price, and often the entire cost of work, if necessary. Bridging loans and property development loans can be used in conjunction, particularly when financing a property through planning. All types of borrowing are interchangeable and can be referred to as 'development finance' or 'property-development finance'.
Conversions of large-scale properties - These projects are typically funded with property refurbishment finance. However, development finance is available for large or complex schemes.
Property refurbishment Ð Here property refurbishment financing would be the best option. These loans can be used to finance any type of project, including light renovations, extensions, structural changes, and re-roofing.
Ground-up builds - These projects require property development financing. Development exit financing may be a more affordable option once the project is complete, but it cannot be used before the scheme has become wind- and watertight.
You can take on bigger projects - This type of loan allows you to put much less money into a project. You can borrow 90% of the cost and only pay 10%. Your savings can be used to finance the project, but not all of them. There are two advantages to this: These funds can be used elsewhere if you have other options. Financial commitment is far lower. It's not a good idea to have all your eggs in one basket. Diversification is the key. Finance your development to protect your savings.
