OVERVIEW


 

Historically being developers ourselves, we are very comfortable in providing finance facilities secured against development sites or properties requiring large renovation or extension works.

These are also short term facilities, and are typically used to fund the full scope of works. For these types of facilities, funds are released in stage payments according to Quantity Surveyor (QS) reports.  

Our in-house expertise enables us to lend to relatively inexperienced developers but maintain that they should employ a team with relevant experience to assist with what could be their first time build, including architects, project managers and contractors. Typical examples include:

  • To provide finance to acquire land with planning and provide development finance to support the build of a site when lending on future value (GDV).

  • To provide finance to refurbish a property when lending on GDV, including schemes with Permitted Development approval.

  • To provide finance to convert/ change the use class of a property when lending on GDV.

  • To provide finance to complete an extension on a property.

Unlike many of our peers, we are happy to provide development and refurbishment loans across England & Wales. 

 
 

Criteria

STANDARD PARAMETERS

NOTES


 

LOAN SIZE

Loans smaller / larger considered by exception

£200,000 - £4,000,000


LEVERAGE

Up to 65% (gross) day one; 65% LTGDV (gross); 85% LTC


TERM

3 months minimum interest applicable on any facility redeemed within 3 months

12-18 months


FEES

2% arrangement fee, valuation, QS and legal fees, £295 administration fee, no exit fee

Valuation fees payable directly to valuation panel manager


LOCATION

Across England & Wales

Geographically agnostic


Land with planning; assets with planning for residential use class; residential assets only for refurbishment

PROPERTY TYPE


Freehold; leasehold with 75+ years on lease; possessory title

TENURE


BORROWER PROFILE

Acceptable borrowers include: UK residents; UK companies; selected overseas companies with shareholders resident in UK

Overseas companies with non UK resident shareholders cannot be accepted

 
 
 

CASE STUDIES

 

 

GROUND UP DEVELOPMENT

 

CONVERSION 

 

60.34% LTC

Purchase refinance and 100% development loan to convert barns into residential houses

Loan amount: £1,030,000
56% LT-GDV

 

75.20% LTC

A purchase loan and 100% refurbishment loan to convert a commercial building into residential flats

Loan amount: £673,000
64.97% LT-GDV