DEVELOPMENT FINANCE
One of the leading advisors, structurers and deal makers of finance for property development is Vision Finance. Included in our services are stretched senior finance, senior development finance and mezzanine finance. We work closely with property developers all over the United Kingdom making sure that we secure the financial arrangements for their undertakings.
Property developers in today’s financial world need to be ever more careful in selecting the right product for their requirements and selecting the best lender. This makes the role of the financial advisor even more important - one that fully understands the current market complications and how to find the best structured deal for your needs.
Our service as your financial advisor doesn’t stop at the initial arrangement deal; we will continue to advise you through to the end of your project or for however long you need us for. As independent advisors you can be sure we will find the best deal for you based upon the many special relationships we have nurtured with finance companies over many years. We will broker the deal on your behalf and continue to work with professionals such as lawyers, surveyors, accountants and valuers to ensure a smooth transition to the legal conclusion of your financial arrangement.
What are the criteria for your loan?
Finance for property development is a specialised product for you to find the funds needed to develop or redevelop a site and often to fulfil the total build costs. Typically, these projects will include any number of uses such as new builds, multi units, conversions or major refurbishments. Loans can be for a company or individual and can be for global entities.
What are the scopes of property development loans?
The normal term is for 6 months to 2 years and our lenders will typically work with deals ranging from £500,000 to £25,000,000.
The normal percentage of the project value that our major lenders advance is up to 70% of the total project costs or 60% of the GDV. The balance is likely to be around 30% from the developer. If required however, we can apply for stretched senior or mezzanine finance and fund 90% of the total costs leaving you to cover 10% of the total costs.
Our team of advisors will be able to advise and assist you in all of your requirements for whatever sort of property development finance whether it’s new build, conversion or refurbishment’
Typical reasons for Property Development Finance
- New Build - following planning consent for your proposed project, you may need finance to cover the cost of the site acquisition and all or some of the build costs. If you have not yet received planning consent , we may be able to arrange Bridging Finance.
- Refurbishment – your project may be to refurbish a property with a view to subsequent sale or refinance. Whatever your requirements whether it’s a major or minor works, we will be able to find you the right deal with the best lenders allowing you to fulfil your project.
Lenders will of course will need to be aware of the track record of the developer including financial , background and experience. They will be keen to lend to developers with a successful track record and this will open the door to property development finance at attractive terms and GDV percentages. Vision Finance will be happy to help developers prepare and present the most favourable application to lenders, including details of the current project and details of successful prior projects.
To pursue finance for your new build, refurbishment or any other specific project, contact us today on 0208 343 9989