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In addition to funding purchase costs we will consider on-going stage releases for up to 100% of development costs in small to medium sized new builds; conversions or refurbishments.
To assist with cashflow, interest can be rolled up or repayments profiled to match return from the project. Mezzanine facilities are also available for experienced developers, thus effectively topping up main stream bank funding.
Property Development Case Studies
£600,000, secured against existing property portfolio in Norfolk to fund conversions of former commercial premises into dwellings, and also 100% build costs for development of four new dwellings.
£180,000 1st charge loan to fund conversion of former hotel in Essex by way of stage payments against architect’s certificates. When completed project will comprise of three grade II listed dwellings. 100% of build costs provided with interest rolled up for a term of 12 months.
£162,000 secured by first mortgage to fund purchase and refurbishment of public house. Stage payments agreed and refinanced with new tenant.
£150,000 to East Anglian contracting company to fund redevelopment of former grain store into light industrial units. Interest rolled up for 6 months. Repaid by building society commercial mortgage upon completion of works.
£112,000 to East Anglian developer to fund stage payments of new house on single plot owned by him. Repaid by buy to let mortgage.
£50,000 2nd charge loan to top up existing bank funding to enable an experienced developer in Manchester to complete construction of two three bed houses pending their sale or re-mortgage as BTL investment properties.