The value of private residential property development projects starting on site is up 15.2% compared with the same period in 2012 according to fresh figures from just release by construction industry analysts Glenigan.
The UK construction industry has seen a rise of nearly 1.9% in new building project starts in the three months to May, led by growth in the private housing sector
Gains in private housing starts valued at under £100m were focused in London and the South East in the past month, but increased activity in Yorkshire and the South West in April also boosted the index. Starts on several other private housing projects worth over £100m will give the Minister of State for Housing Mark Prisk who has led the Government’s Help to Buy and NewBuy schemes further cause for positivity.
Property developers are now taking advantage of improving finance options and returning to the market to develop land and to pursue new and abandoned conversion projects. We have seen lenders coming back into development funding, as demand for housing rises and the economic outlook improves. We are definitely witnessing an increased appetite from lenders looking to lend.
Below are examples of Development finance terms that are currently on offer:-
- England, Scotland and Wales
- Individuals, companies, partnerships
- 70% property development loans available
- Mezzanine Finance
- Joint venture funding
- Non-status loans/poor credit history
- Rates from 0.75% per month
- No exit fees
- Interest rolled up into the loan or serviced
- Arrangement fees added to the loan
- Transparency – No early repayment penalties or hidden charges
- Interest calculated only on the amounts drawn
- 65% day 1 value, 100% build costs
To have a development project assessed you normally need to provide the following information:
A description of the project
A recent CV to show experience in property developing (if a builder or property developer)
Statement of your business/personal assets and liabilities
Plans and drawings
Confirmation of Planning Permission
To achieve optimal development finance terms for your project you need the right contacts with excellent presentation skills and a reputation for success to put your business funding requirements to tender.
Please complete this enquiry form and we will be delighted to introduce you to the right person for your individual needs.
As founder members of the National Association of Commercial Finance Brokers “NACFB” since 1992 we have all the contacts and connections you are likely to need.