Frequently Asked Questions
How Much Money Can I Borrow?
We offer development finance from £50,000, with no maximum loan size. The maximum loan is judged on a case by case basis, although as a rule of thumb, we can lend up to 75% of the GDV and 90% of the costs.
If you’re looking for more, you may want to consider joint-venture development finance, which allows you to borrow up to 100% of total project costs.
What Interest Rate Will I Be Charged?
Each loan is different; however, we can offer property development finance from 4.5% per annum.
As whole of market development finance brokers, our mission is to secure you the cheapest terms that meet your needs fully. We do all the running around for you and present you with written terms based on the most suitable product for your needs within two hours.
How Soon Can I Have the Money?
At the point that we issue you with your written terms, we will also let you know exactly what is needed to apply. You can apply for your bridging loan on the day of enquiry if needed.
From application to completion, depends on the lender chosen. We will always take your completion timescale into account prior to issuing terms. Our lenders are generally able to complete within 2-8 weeks, depending on the lender chosen.
Do I Have to Make Payments During the Term of The Loan?
Although some lenders will allow you to make the interest payments during the term of the loan, monthly payments aren’t usually required.
A great majority of the development finance applications we work on, roll the interest on top of the loan, meaning no monthly payments are required.
Do You Lend to First-Time Developers?
Yes, we have many lenders who are happy to lend to first-time developers. If you’re a first-time developer and would like more information, talk through your options with an adviser. We’ll be able to tell you what you may be able to borrow straight away.
What Type of Developments Do You Lend On?
We can lend against the following development projects:
- New build
- Mixed use
- Regulated or unregulated
Any development will be considered, and we will generally be able to let you know exactly what terms we can offer within two hours.
Can You Lend Against Sites Without Planning Permission?
Yes, if your project is still awaiting planning permission, or you are varying the existing planning, we have lenders who are happy to lend.
Where no planning is in place, we can usually raise finance to fund you through planning. We can even lend based up to 85% of the hope value under certain circumstances.