Property Development Finance Explained
- Funding can be obtained for new building projects such as housing and office space or large scale renovations. The amount of money you can borrow will depend on the scale of the project and the expected returns. It’s important to consult with a professional regarding all the fees associated with financing your development to avoid any unexpected expense.
- Lenders may also have specific criteria regarding who they lend money to. This may be different to the criteria a bank uses for example. A specialist property development finance company will have their own specifications when deciding who to lend money to, take a look here.
- Securing a bridging loan is another option which may be available to you, this is a short term secured loans typically used to provide quick, temporary finance to cover an outlay while you’re waiting for other funds to come through. You can read more about bridging loans and see if this is right option for you.