Development Finance remains available for both residential and commercial development projects within the UK. Funding can be arranged for smaller refurbishment projects through to large scale new build developments.
B&P has a wealth of knowledge, experience and contacts within the real estate development sector and bespoke finance packages are tailored to meet the underlying cashflow requirements of each individual project. Senior debt finance is generally available for up to 90% of total project costs and 70% of end values (GDV) dependent upon the characteristics of each project. However in some cases it may be possible to put in place mezzanine finance to increase the total funding on the project. 100% funding is still available in some circumstances.
Funding is generally structured on an interest only basis, with interest either covered monthly or rolled up within the aggregate loan facility, with funds drawn down in stages as the development progresses.
B&P has access to both the senior debt lenders and mezzanine debt providers that are active within the UK development finance arena. If you have a development project that requires funding, please do give us a call as we will be pleased to discuss what is achievable in the current market.
Not all forms of mortgage are regulated by the FCA.