We have successfully helped property developers
secure residential and commercial property development finance
across the spectrum from residential developments costing
tens of thousands of pounds to multi-million pound commercial
developments.
Property development finance rates differ
dependent on the applicants experience, the industry sector
and the nature of the proposal. The loan to project costs
will be influenced by projected gross property development
values, but funding would typically be in the region of
70% to 75% of the purchase price and build costs. In some
instances we are able to procure finance levels significantly
above this level but this is looked at on a case by case
basis. For more experienced developers with a strong track
record this can often be increased to up to 100% of build
costs where a planning gain has been achieved.
Should a lower loan to build cost be offered
and you require assistance with the additional finance we
can also assist in arranging Mezzanine finance.
Our advisers will help you package your proposal
and business plan and negotiate the best rates with the
most relevant lenders for your circumstances.
Your property may be repossessed if you do not
keep up repayments on your mortgage.
Please note that Commercial business
conducted through Bank of Scotland, Natwest and Northern
Rock are offered through Openwork Limited. Other Commercial
products and services promoted here are not part of the
Openwork offering and are offered in our own right. Openwork
Limited accept no responsibility for this aspect of our
business. These products are not regulated by the Financial
Services Authority.
