Property finance helps fund the modification of new property or existing one. We bring the property to life by providing tailored solutions to existing and first-time developers.
With competitive rates, professional support, and tailored solutions, we operate as a one-stop store for all your needs. We undertake unique financing needs at the centrepiece and craft bespoke solutions that bring your vision to life. Contact us if you need loans for property development with unmatched excellence from start to finish.
Whether you need to amp up your existing place, new property, buy-to-let, or one you won in an auction, we ensure swift and same-day finance with minimal documentation and checks. We understand that you need seamless, affordable, and quick finance to begin auctioned property development for sale or for any other reason. If your property is in good condition, we provide 90% of the property value to fund your dreams.
In development finance, we provide money to purchase the property based on the current value you need for the loan. Here is how you can get development loans for the property work hassle-free:
We conduct an Initial Inquiry
Once you approach us, provide as much information as you can. We may ask you to file the following:
Provide the needed documents for verification
Once you provide the authentic details, we may ask you to provide proof of the following documents:
Credit search and underwriting
We conduct a few credit checks to ensure your affordability. Individuals with existing mortgages can apply with sound income. Apart from that, you must provide relevant proof of the timeline of the completed projects. It helps us analyse the situation better.
Get funds with post-loan assistance
After concluding and verifying the legal requirements, one can draw down funds immediately. We provide post-loan clearance support with constant guidance. If you need assistance regarding the smart management of funds with the mortgage, consult today!
With us, you can benefit from short-term lending, as we approve it faster. It is ideal for those who plan to buy, develop the property, and put it up for sale. You can spread the loan costs with long-term finance per your goals amid tough timelines.
You should prepare for these things to get affordable property development loans from lenders:
Ensure enough deposit
The deposit depends on the loan-to-value ratio and the requirement. It may vary from site construction to site purchase. We ask for about 25-40% of the deposit on the finance. You can even get 100% of the development finance with us.
To ensure this, you can put up another property as collateral. You can also pledge a part equity that equals the sum you need to get the loan. We analyse your inhibitions and ensure safe finance.
A sound exit strategy
An exit strategy is a complete route to using the available funds to clear the loan without defaulting. In this loan type, you only pay the interest costs. We ensure that you have a strong exit strategy for the ability to sell the property after development or remortgage.
Experience as a developer
If you share nearly 3 or above years of experience as a property developer, you may secure easy finance here. Diverse expertise reveals the projects you have dealt with successfully. It helps us ascertain that the investment is in safe hands.
A bridging finance is an amount to close the purchase or the property deal. It depends on the purpose, experience, existing property market value, and mortgage. If you have a property with a £50,000 mortgage, your earnings should be higher enough to make both mortgage repayments and new bridging finance.
We receive many applications for additional finance to meet any property development needs. You may require it for:
Regardless of your wants, we provide additional or bridging finance for property development if you can manage it without defaulting on the payments. You should ensure a clear exit strategy. Analyse the total costs you may incur on the project.
Calculate the time the builder would take to build the thing. It would help us define the right amount and timeframe to lend by calculating the risks and potential associated with your existing income and mortgage payments.
We also consider the developer costs and contractor costs. We can provide approximately 60% of the mortgage value in this case. We deduct the building costs, site value, and first charge liability.
As a reliable property development loan provider, we leverage technology, data, and experience to deliver smooth and transparent solutions. There is no better way to experience excellence than with personalised solutions. Call us to leverage a collaborative and fair approach to ensure competitive pricing and quotes.
What does property development finance imply?
Property development finance is a facility that helps business owners, property developers, and property owners leverage finance to modify, construct or convert existing and new buildings. One can use it to bridge the costs of residential or commercial property construction or renovation or finance the complete project. Usually, the loan is short-term, for around 8-12 months.
One can use it for both public and private investment. For this, you need to ensure strong affordability. It is usually secured finance.
What is a property development loan in the UK?
A property development loan is a financial facility that lenders provide to developers, property owners, and individuals to renovate a new or existing property. It deals not just with secured finances or mortgages but grants unsecured ways to get finance.
You can get an unsecured loan if you have stable finances, a sound business plan, and an exit strategy for residential and commercial purposes. The amount you can borrow depends on the property value. Usually, you can get 65-70% of the property value.
Can you use a bridging loan to develop property?
Yes, you can. A bridging loan is a type of short-term loan taken out for 3 years that one can take to bridge a larger amount or long-term financing. Most individuals use the facility to buy a new property before selling the active one. A bridging loan help one with buying another property, property development, tax payments, and investing in buy-to-let properties.
You can choose a fixed repayment date or pay comfortably throughout the year. The amount you get on a bridging loan depends on – your existing mortgage, property value, equity in the property, and monthly income.
What does GDV imply in property?
Gross Development Value (GDV) is the property value calculated throughout the project completion stages. It helps monitor the anticipated value of the property after development.
It is a performance metric of the property price appraisal that determines the total value of the property in contrast to the existing properties in the same area. It should be calculated during the development and appraisal, budgeting, funding, pre-commencement, and construction stages of property development and renovation.
How to use a bridging loan for a residential property?
A residential bridging loan is usually an interest-only loan that one can use for any construction or renovation. You can use it to reconstruct the kitchen and deck, renovate the living room, etc. You can use the residential bridging loan in the following situations:
Where can I get a business loan for development?
You can contact Loansevents for a commercial business loan for development. The majority of our lending bases have no pre-sale facility. Instead, we access the property value and development. With nil pre-sales, you can reduce the holding costs.
We combine personalised, professional and timely delivery to provide the right figure for your need. You do not need to be too concerned about hidden costs as we do not charge any. We aim for quick money transfers complying with legal standards.
Delay your new commercial or residential project no more. Get calculative and flexible property development loans at the best costs, today!