Typically a property development loan is arranged on an interest only basis and the term of the loan is between 4 – 36 months, though longer and shorter terms are possible. The term normally depends on whether the loan is for refurbishment or for a new build property. Two stage loans are normally involved in development finance, although they are not always required together. One stage is for the land or property purchase and the other is to fund the cost of the renovation or build costs.
The rate / margin offered by the lender will vary significantly depending on the case presented to them and whether the applicant is an experienced or new property investor / developer. All applications are assessed on a case to case basis. Rates can be based on a margin above the Bank of England Base rate or LIBOR rate, or the lender may provide the option of a fixed rate. Rates for development loans are typically from 3.5% above the Bank of England Base rate.
For further information on any of the products that we offer, or to discuss your funding requirements please contact us on; 020 7993 8445 or finance@belgraviapf.co.uk
Development finance can make an important difference when it comes to developing commercial and residential properties. Whether you’re a property developer looking to start a new project or an investor looking to expand your portfolio, development finance can provide the capital to help you achieve your goals.
Based in London, Belgravia Property provides development finance for both commercial and residential projects across the UK and around the rest of the world. With finance of up to 90% of development costs, we can help you unlock the true potential of your property by giving you the investment you require. Our team of experienced finance professionals will be on hand to provide tailored advice and support, ensuring you get the most out of your development project.
When you apply for development finance with Belgravia Property, you’ll benefit from our competitive rates and flexible repayment terms. Our experienced team of financial advisors will also be happy to answer any questions you may have throughout the process.
We understand that every development project is different and your requirements will depend on the size and scope of the project. That’s why we provide bespoke advice and support tailored to your individual needs. At Belgravia Property, we believe in helping our customers achieve their goals. That’s why we offer a top-of-the-line development finance service that helps to make to process as seamless as possible for our clients.
If you’re interested in finding out more about our development finance services, get in touch with the Belgravia Property team today. Our experienced team of financial advisors will be happy to provide you with more information and answer any questions you may have.
8am-8pm Mon-Fri, 10am-4pm Sat & Sun | Call 020 7993 8445 or emails us at finance@belgraviapf.co.uk
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