PROPERTY DEVELOPMENT FINANCE
Most property development funders will lend up to 75% of the property cost and 75% of the development costs. In many cases where good profitability is anticipated, funding may be available at up to 100% of the total project cost for both commercial and residential developments.
Funding is usually on an interest only basis with monthly repayments of interest on funds drawn down. Interest may in some cases be rolled up, providing the outstanding amount is within the maximum facility available.
Planning gain finance may be available for up to 100% of the purchase price of residential and commercial sites with planning potential. Specialist lenders in this high risk area of commercial finance assess each case on its own merits, taking a view on the future value of the project once the planning gain has been realised, and the intended exit route of the purchaser. The cost of the facility reflects the risk, with most lenders requiring interest to be covered until the planning gain is achieved.
For further information or to discuss the options available contact us here at GR8 Business Finance on 01704 514514, or send a message via the Contact Us page giving your full name and a daytime contact number.
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