Development finance is designed for clients who are seeking to either build or redevelop anything from a single property to the construction of a block of flats.
- Residential
- Commercial
There are several options available from development finance lenders and the right solution for you will depend upon your objectives. Development finance can be used to finance both the land purchase, and also the build costs. The highest loan to value development finance plans will, typically, fund up to 70% of the land cost and 90% of the build costs, provided the loan amount does not exceed 70% of the gross development value.
Case Study Example
Conversion of 1980’s Former Office Block
14-16 Westbourne Grove, London W2
LOAN FACILITY£20m
GDV £60m
LENDERMiddle Eastern Islamic Bank
DESCRIPTIONDevelopment Facility to convert former 1980s office block into 20 luxury residential flats & 12 underground parking spaces.
Case Study Example
Demolition of House and 3 New Houses in Epsom
Epsom, Surrey KT17
LAND VALUE£6.5m
LOAN FACILITY£5m
GDV £9m
LENDERLondon Based Development Lender
DESCRIPTIONDemolition of House and build of 3 new houses
Case Study Example
Development Loan in Sutton
Sutton, South London, SM7
LAND VALUE£500K
LOAN FACILITY£1.5m
GDV £2m
LENDERManchester Based Development Lender
DESCRIPTIONDevelopment of owned land alongside marital home
Case Study Example
Conversion of family home to 3 flats
Stoke Newington, North London, N4
LAND VALUE£1.1m
LOAN FACILITY£720k + similar refinance package
GDV £1.4m
LENDERLondon Based Development Lender
DESCRIPTIONConversion of 3 storey home into 3 leasehold flats