Property Development Finance
Property development finance can be sourced for experienced property developers and private builders. Applicants need to be able to confirm they have past experience in undertaking developments of the size that are seeking funding on. i.e. They have bought either land or buildings in the past, developed the site and then on sold or converted successfully onto Buy to Let finance.
We do have lenders that will look at proposition where by there is a strong build team in the background that will work with you if you have not done a development in your own name in the past.
Please give one of our Consultants a call to discuss on Free phone No. 0800 0735353.
Property Development Finance is available for:
- Commercial development (Pre let or pre sold agreements are normally required)
- Residential development finance (New build, conversions, extensions)
- Mixed development of Residential and Commercial ( Pre let or pre sold agreements are normally required)
- Property Trading (Acquisition, refurbishment and onward sale).
- Investment Portfolios
- Loan Size £100,000 - £5 million
- Term Up to 12 months
- Longer terms available inline with project timescales
- Loans towards land purchase or repayment of existing available depending on project.
- 100% of build costs
- In general overall lending not to exceed up to 55% of the end value, including interest roll up.
- Lender's surveyor will monitor work done, costs and timetable.
- Stage payments are usually released on monthly certification in arrears.
- Sites to have detailed planning in place before purchase of land and drawdown of build costs loan.
- As a guide, projects should show a minimum of 25% profit on cost.
Applications to Lenders
All Property Development Finance cases are supported by professionally prepared credit applications, thereby significantly enhancing the chances of our clients securing the optimum financial package. In the current lending climate it pays to have your application put together by industry experts, who know what lenders are looking for.
- Outline Development Appraisal stating what is being built, where and final outcome. i.e. Sale or retain for rental.
- Costings summary to include a contingency and an estimate of end values.
- Copy of planning permission and plans.
- Assets and Liabilities Schedule of the applicants/directors
- CV from all applicants stating their past development experience.
Unlike some of our competitors, we do not believe in up front charges. Our fees are only payable when our client has received a formal offer of finance and is usually payable at the time of completion.
Our panel of lenders have excellent reputations for their expertise, speed, flexibility and reliability. In most cases a higher level of loan to value can be obtained from such specialist lenders than can be obtained from traditional high street banks.
Commercial property finance can be arranged for any specific purpose, as part of a large funding requirement such as a management buy out or a corporate acquisition or, for example, refinance or rebanking, development finance, short term bridging finance or a buy to let investment.
SCR's experienced Commercial Mortgage Consultants can help and assist on all aspects of Commercial Property Funding. Our experienced commercial mortgage consultants all have backgrounds in the banking sector and can offer added experience and advice to clients in respect of structuring a deal. We have access to a wide range of commercial mortgage lenders including:
- building societies
- merchant banks
- development funders
- bridging financiers
- private lending consortiums
All our property funding cases are supported by professionally prepared credit applications, this significantly enhances the chances of our clients securing the optimum financial package. SCR do not believe in up front charges. Our fees are only payable when our client has received a formal offer of finance.
Sterling Capital Reserve are independent brokerage, we regularly arrange Property Development Finance for Clients. Our panel of lenders have excellent reputations for their expertise, speed, flexibility and reliability. In most cases a higher level of loan to value can be obtained from such specialist lenders than can be obtained from traditional high street banks.
Sterling Capital Reserve has experienced Commercial Property Development Finance Consultants who are able to assist clients throughout the underwriting process, from enquiry to completion.
Professional credit applications increase the chances of our clients securing the optimum property development finance package.
Once we have undertaken obtaining all relevant information about your property development project and your business requirements, then we are able to assist in any 'negotiation' process with lenders in order to secure the best possible property development finance terms for your business.