Property development funding is widely considered to be the most vital part of any development - without it there is no development. Developers know that delays cost money, which is why they value our market knowledge and ability to respond quickly to ensure the required finance is in place, on the most attractive terms, always working within flexible time scales in tandem with the developer.
Brit Commercial Mortgages arranges funding from small extensions to multi-million pound projects. We pride ourselves on our ability to provide our clients with the most suitable package, at the best possible rate, with the finance in place when the client is ready.
Our service is one of mentoring and hand-holding for clients new to the market, an area where many a long-term client relationship is formed. This involves submission of a case to lenders about your circumstances, and negotiating the most attractive terms for you.
So what happens when I finish my development? You will have a range of options available to you. If you wish to sell one or more units within the development we may be able to identify suitable investors for you.
Some lenders will advance up to 100% of the total development costs, including site purchase and the cost of construction. We are sometimes able to apportion the total debt between various categories of finance, which effectively reduces the amount of capital required from the developer, thus retaining capital which may be deployed in subsequent developments.
Property development finance is also available on an interest-only basis. This is done by allowing interest to accrue over the term of the agreement, to be settled when the project is completed and sold or refinanced.
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