Property development finance is a short term loan for property developers. This is to typically build residential projects and is normally used to purchase land and to cover development costs.
Now that you understand what it is, do you know how it works?
What type of project is considered ‘acceptable’?
Most companies will consider developments that are mainly residential. This may include purchasing a large property and converting into flats or even a new build. Sustainable projects are hot in favour at the moment. Find out more.
What type of people is accepted?
Having experience as a property developer may help your application, but this isn’t always a requirement for many private lenders.
For example, Hunter Finance is a private lender that operates across the South. They offer finance to private individuals, experienced property developers, building companies and commercial developers. See more information.
They cover everyone.
How much can I borrow?
This is something that will depend on the company that you choose, but most often loans are between £100K and £2.5M.
You should think about budget things and only get a loan for the amount you require. Otherwise you may end up paying money back that you didn’t need. Click here to see your funding options.
How do I apply?
If you do your research on Google and find a reputable company on there, we recommend giving them a call to discuss their conditions.
On their website, they may also have a form that you can fill out including your requirements. A credible company should get in touch with you within 48 hours of submitting your form.
If you are struggling to choose a company that you feel you can trust, you can get in contact with us. We will share honest recommendations with you based on our own experience.