£500k Property Development Case Study
Updated: May 8
If you're a property developer, securing funding to complete a project can be a daunting task, especially if you have a less-than-perfect credit score or if your project is considered high-risk. However, with the right lender and a solid plan, securing development finance is certainly possible.
Recently, a property developer based in Antrim needed £500k to develop a site that had been mothballed since the financial crisis. With our help, the developer was able to secure funding on a 15-month term, allowing him to complete the project and get it back on the market.
When it comes to securing development finance, it's important to have a clear plan in place. Lenders want to see that you have a solid business plan and that you have done your due diligence on the project. They will want to know how you plan to use the funds, how you plan to repay the loan, and what the potential return on investment will be.
As a builder, having access to development finance can be a game-changer. It can allow you to take on more significant and more profitable projects, and it can help you expand your business. However, it's crucial to work with a lender who understands the unique challenges of the construction industry and who can offer you competitive rates and terms.
When it comes to choosing a lender, there are several factors to consider. Look for a lender who has experience working with builders and property developers, and who can offer you a range of loan options to suit your needs. It's also important to read the fine print and understand all the terms and conditions before signing on the dotted line.
In conclusion, securing development finance can be a challenge with the post COVID markets, but with the right lender and a solid business plan, it's possible to get the funding you need to complete your projects. As a builder or property developer, having access to development finance can be a game-changer, allowing you to take on more significant and more profitable projects. If you're in need of development finance, we are happy to help with years of experience and over £50 million in property development based deals behind us.
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