Whilst the availability of development finance is more limited than it has been in the past, we are able to consider professional developers with properly costed plans on these typical terms:-
LTV
Up to 60% of GDV (gross development value) available on a stage release basis.
Rates
From base + 6%.
Fees
Varying depending upon the size and nature of the project.
Unique Requirements
In view of the current funding restrictions only the very best development proposals will be considered. In most cases an application is unlikely to proceed without ,as a minimum, the following:
* Full planning consent
* Full detailed plans
* Properly costed schedule of works
* JCT contract (where applicable)
* Current trading accounts/ Bank statements (both business and personal)
* C.V of recent projects/works
Renovation/Development Completion
We do have smaller specialist facilities for inexperienced developers who may have substantial equity but are short of funds to complete a partly developed project. Fees and costs vary considerably and these will be reviewed on an individual basis.
