Development Finance

Property development finance is aimed at investors looking to take on comprehensive renovation and new build projects. Options for property development finance are also increasing after a shortage of funding in recent years. Again it is the specialist lenders filling the gap in this under-served market. Borrowers need to be experienced developers and must be able to provide considerable information to the lender including a full appraisal of the development including copies of planning permissions, a breakdown of the build costs, cash flow forecasts for the project and commentary around the exit strategy, as well as the usual financial documents.

The loan amount is based on a percentage of the gross development value at the end of the work, usually 60% loan to value, with a maximum of 60% of the total costs. Loans are normally structured to ensure that the developer’s contribution is utilised up front with the lender providing the majority, if not all of the build costs. It is usual for funds to be drawn down in stages against the architect’s certificates.

To find out more contact us today.

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Opes Financial Partners Ltd, 1st Floor, 167-169 Kensington High Street, London, W8 6SH is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate some aspects of buy to let mortgages, overseas mortgages and tax advice. FCA number 598462.
Opes Financial Partners Ltd Registered in England and Wales No: 7556710 Registered Address: Sterling House, 27 Hatchlands Road, Redhill, Surrey RH1 6RW.
A typical fee of up to 1% of the mortgage amount may be payable on successful completion. The fee will be agreed with each applicant prior to submitting an application. The total fee is non-refundable. We may also be paid commission from the lender.