Development Finance is short term funding used for the construction or refurbishment of property, whether the project be a residential or commercial development.
How does it work?
Development Finance is based on the Gross Development Value (GDV), which is the value once the development is completed. Loans are available up to 70% of the GDV, and money is drawn down in tranches as construction progresses, in line with the increasing value of the development site.
Where can I get it?
Breadalbane have access to a wide ranging panel of funders made up of high street lenders, challenger banks and more specialist property funders.
Every funder has different appetite as to what type of development they will fund, so reaching the right funder is crucial to successfully sourcing development finance. But, it’s about more than this. Given recent market uncertainty, flexibility is becoming increasingly important. Developers need to be able to react to changing conditions and respond quickly to new opportunities. This is where having access to specialist resource comes into its own.
What about fees for Property Finance?
We don’t charge consultation fees and we take a fee from the funder which is built-in. This means it doesn’t cost you any more to get our expertise. The size and scale of our business means that we know, and have access to, a wide variety of lenders. We understand our market, with specialist resource in-house, so you can trust we’ll get you a competitive deal, whatever the circumstances.
Contact Kenny Campbell for more information on how Development Finance could potentially help your business.
