Product of the week: development finance from £2-20million

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THE SCENARIO

Are you an experienced developer looking to begin a relationship with a bespoke, holistic and pragmatic development finance lender? Our product of the week—suitable for loans ranging from £2million to £20million—could be the answer.

Whether you’re looking to complete a heavy refurbishment of a property, or a ground-up development, this tailor-made development finance solution could be a suitable solution. This lender can also work on listed property and commercial to residential conversions.

We have a fantastic relationship with this lender, having worked with them on many occasions, so we are ideally placed to liaise with them on your behalf. This lender’s core values of offering a bespoke approach and high-quality service aligns perfectly with our own ethos. Our relationship with them also allows us to drive the application forward quickly, securing you the finance you require in a timely manner.

What can this development finance lender offer?

Suitable for developments on a range of scales, the lender can provide facilities up to £20million, for loans up to 65% Gross Development Value (GDV). For smaller loans of up to £15million, they can provide loans up to 75% GDV. With a minimum loan size of £2million, this is an excellent lender for experienced developers seeking a pragmatic approach.

This lender is happy to provide up to 90% loan to cost. Another attractive feature of this product is that the lender can offer a day one lend of 80%.

Furthermore, unlike some development lenders, who are only prepared to work in certain areas, this lender has no geographical limitations within England and Wales. This makes them a suitable development finance lender for developers working outside of the Greater London area.

What criteria does your project need to meet?

The project in question should be a residential scheme with full planning permission in place. Applicants should be resident in the UK with permanent leave to remain.

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