Development finance is funding for either a new building project or comprehensive renovations. Schemes can include house builds of various sizes, building blocks of flats, and converting an existing property. It works for residential, commercial and mixed-use property. Funding can be secured to assist for example in the purchase of a site or office blocks to be converted to flats then It is typical for works to be funded in stage payments. Development finance can also be used to cover renovation or restoration costs on property before a developer can recover them by selling or renting it. This type of finance is very specialist and direct communication with lenders is vitality important Home Capital Wealth has the experience to ensure our clients secure the best solution.
Key Features of Development Finance include:
- Loans up to 65% of GDV (This can increase depending on the experience of the client.)
- Funding 100% of build costs
- Interest roll up
- Single unit and multiple unit projects
- Residential, Commercial and Mixed-use schemes
- Term up to 24 months
