What is development finance and how can it be used?

THE SCENARIO

‘Development finance’ covers a wide range of situations. For example, it could be used to fund the purchase of a site, which could then be developed in several ways. It might cover the construction of a building, or the refurbishment of a residential property. It could also be to develop commercial land and property.

Typically, development finance is in the form of a short term loan—although there are an increasing number of options available to meet your requirements. It is often offered in two parts. The first part of the loan is made available for your initial purchase of a property or site; the second section of the loan is then released to fund the actual development process.

There are many arms to development finance; Enness Development has a range of brokers who are able to advise you across all of these areas. For example, we can advise on mezzanine finance, joint ventures and finance for property refurbishment. We are able to support you with both acquiring a bridging loan and refinancing a loan on completion. We can also support you with cash flow issues that arise during your development, in addition to offering advice to first time developers who are unsure of how the process works.

It’s also important to remember that development finance isn’t just for investors—Enness can also help you with financing a self-build residential project.

We consider loans of all sizes on a case-by-case basis, across all UK locations. We can also assist you with international development finance, or if you are developing in the UK but live abroad. Enness has strong relationships with partners who can advise you on other aspects of the development process, such as tax and foreign exchange. Contact us today to discuss how we can assist you with your development finance needs.

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