Property Or Development Finance/Funding
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- Non-high street lenders used.
- Provable track record required.
- No new developers unless part of JV with experienced.
- Minimum loan values £150k.
- New builds preferred or residential conversions considered.
- The developer must put in at least 50% of the plot price.
- Loan to value 50-60% of gross development value.
- Project must be ready to start.
- Funds released in 4-5 stage payments after inspection.
- Detailed project analysis & costs required.
- Each development judged on it’s own merit.
- Interest can be rolled up till end with some lenders.
- Advice for property/holiday home rental income.
Self Build Project Funding
- Can only be used for a main residence build only.
- Half a dozen lenders will do this financing.
- Up to 75% Loan-to-Value loan available.
- Stage payments of funding paid in arrears.
- Affordability linked.
- Self employed allowed, calculated at around 4 x your net profits.
- Employed- 3- 4 times salary given as multiple.
- Simple loan- one interest rate throughout loan term.
- Will lend up to 75% of land cost + 75% build costs.
- Loan will be pulled if an attempt is made to use it for property development.
ECO Property Developments
- 75% of land value and 75% of project costs.
- Each ECO addition reduces interest rate by 0.25% up to 1.5% max
- Simple loan rate and rules as above.
Asset-Based Finance
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- Short term loans-higher than bridging rates.
- Fast finance from private lending sources.
- Lending based on your luxury tangible assets, such as;
- Art, cars, jewelry, personal number plates etc.
- Quick turnaround on loan deposit-usually 48hours.
- Raise finance from your existing non-property assets.
- Can get you out of trouble very quickly.
Bridging & Unencumbered Property Finance
- Your mortgage free property is valued.
- A loan is underwritten for up to 60% of the value.
- You can draw down on the loan as you wish.
Bridging Finance
- Loans from 1-2% per month for short-term finance use.