Throughout the life of a development project, you will be required to pay various lump sums to cover the cost of contractors, labour, materials, and many other—potentially unforeseen—payments. As such, developers may face issues maintaining cash flow, if this is not prepared for.
Developers may wish to release equity from existing projects to fund these payments, or they may require additional funding for a project which has overrun or encountered unexpected hurdles. Whatever it is you want to do, Enness has the contacts in place to assist you with any cash flow issues.
What do you need to know about cash flow issues?
Developments may cost more than originally intended for a number of reasons. For example, changes in the specification due to revisions by architects and designers may incur certain costs unaccounted for within the original budget. Likewise, challenges with the site may arise once the development process has been embarked upon.
The length of a project may exceed the original forecast and developers may require a second charge loan. For example, as original terms come to their conclusion, the lender may refuse to grant any further borrowing due to a change in lending criteria.
How can Enness help with cash flow issues?
Our expert development finance brokers know a project doesn’t always run as smoothly as expected. Enness has a wealth of experience providing financing solutions for even the most complex of circumstances.
Because no one can accurately read the future, and unforeseen circumstances do occur, it’s important to know that cash flow issues can be solved quickly and efficiently. We assess each case individually, and due to our excellent relationships, we are able to approach lenders with whom we have an established, nurtured and beneficial relationship to present your case.