Property Development Finance
Property Development Finance can be arranged by Commercial 1 on both Residential and Commercial properties.
Funding can be arranged for individuals, partnerships, Builders and Developers and Limited Companies.
As with all lending arranged by Commercial 1 our aim is to secure the best funding solutions available to meet your bespoke needs. We also have specialist lenders on our panel who sometimes have more flexibility than the conventional mainstream banks.
Development Finance is usually arranged on an Interest only basis and depending on the nature of the project can be arranged for a term of between 6 to 12 months, sometimes longer. After the development has been completed, some of the banks may even look to take on the loan as a full term commercial mortgage.
• Rates starting as low as 1.5% per month rising to a set rate of 7% for the period of the development
• 65% can be raised against the initial value or purchase price with a further 65% towards the build costs
• In addition, 55% can be advanced against the value or purchase price with a full 100% towards the build costs. This work providing that the Gross Development value (GDV) does not exceed 55%
Commercial 1 understands that development funding is a bespoke market and with the current market volatilities our market knowledge of this sector is one of our key strengths, we will ensure that through the relationships we have built with our panel of lenders, you will receive the best possible rates and terms to suit your needs and requirements.