{"id":964,"date":"2022-10-16T23:42:25","date_gmt":"2022-10-16T22:42:25","guid":{"rendered":"http:\/\/commercial.yourmortgageapproved.co.uk\/?page_id=964"},"modified":"2025-05-24T19:26:47","modified_gmt":"2025-05-24T18:26:47","slug":"development-finance","status":"publish","type":"page","link":"https:\/\/yourmortgageapproved.co.uk\/commercial\/development-finance\/","title":{"rendered":"Development Finance"},"content":{"rendered":"\n\n\t<section class=\"section dark sticky-section has-parallax\" id=\"section_1200902244\">\n\t\t<div class=\"section-bg fill\" data-parallax-container=\".section\" data-parallax-background data-parallax=\"-3\">\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"2560\" height=\"1709\" src=\"https:\/\/yourmortgageapproved.co.uk\/commercial\/wp-content\/uploads\/2022\/10\/development-plans.jpg\" class=\"bg attachment- size-\" alt=\"\" \/>\t\t\t\t\t\t<div class=\"section-bg-overlay absolute fill\"><\/div><button class=\"scroll-for-more z-5 icon absolute bottom h-center\" aria-label=\"Scroll for more\"><i class=\"icon-angle-down\" style=\"font-size:42px;\" ><\/i><\/button>\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\t<div class=\"ux-shape-divider ux-shape-divider--bottom ux-shape-divider--style-curve-opacity\">\n\t\t<svg viewBox=\"0 0 1000 100\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" preserveAspectRatio=\"none\">\n\t\t<path class=\"ux-shape-fill\" opacity=\"0.15\" d=\"M0 14C0 14 88.64 17.48 300 50C560 90 814 77 1003 40L1015 68L1018 104H0V14Z\"\/>\n\t\t<path class=\"ux-shape-fill\" opacity=\"0.3\" d=\"M0 45C0 45 271 90.13 500 77C657 68 830 30 1015 14V100H0V45Z\"\/>\n\t\t<path class=\"ux-shape-fill\" d=\"M0 58C0 58 188.29 90 508 90C798 90 1002 55 1002 55V100H0V58Z\"\/>\n<\/svg>\n\t<\/div>\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n<div class=\"row\"  id=\"row-865244143\">\n\n\n\t<div id=\"col-1204355165\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-2119471418\" class=\"text\">\n\t\t\n\n<h2>Development Finance<\/h2>\n\t\t\n<style>\n#text-2119471418 {\n  font-size: 1.7rem;\n  line-height: 1.15;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-948768392\" class=\"text\">\n\t\t\n\n<p>Development finance is provided to experienced builders and developers so that they can raise the funds to turn their building ideas into a commercial reality.<\/p>\n\t\t\n<style>\n#text-948768392 {\n  font-size: 1.8rem;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_1200902244 {\n  padding-top: 0px;\n  padding-bottom: 0px;\n}\n#section_1200902244 .section-bg-overlay {\n  background-color: rgba(44, 44, 44, 0.512);\n}\n#section_1200902244 .section-bg img {\n  object-position: 0% 55%;\n}\n#section_1200902244 .ux-shape-divider--bottom svg {\n  height: 260px;\n  --divider-width: 100%;\n}\n<\/style>\n\t<\/section>\n\t\n\n\t<section class=\"section\" id=\"section_534588010\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n<div class=\"row\"  id=\"row-27772806\">\n\n\n\t<div id=\"col-530219321\" class=\"col medium-12 small-12 large-7\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n<div class=\"row align-equal\"  id=\"row-297082352\">\n\n\n\t<div id=\"col-288714160\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(240, 247, 251);\" >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-2595584843\" class=\"text\">\n\t\t\n\n<h2>What is development finance?<\/h2>\n\t\t\n<style>\n#text-2595584843 {\n  font-size: 1.25rem;\n}\n<\/style>\n\t<\/div>\n\t\n<p class=\"p2\"><span class=\"s1\">It\u2019s a loan for the development or refurbishment of residential, commercial or mixed-use properties.<\/span><\/p>\n<p class=\"p2\"><span class=\"s1\">Development finance is provided to experienced builders and developers so that they can raise the funds to turn their building ideas into a commercial reality. Specialist development finance lenders will take the future value of the property (GDV) into consideration when agreeing to a loan.<\/span><\/p>\n<p class=\"p3\"><span class=\"s1\">Development finance is available to property investors, landlords and developers looking to upgrade or build.<\/span><\/p>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-288714160 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n\t<div id=\"col-1783066633\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(240, 247, 251);\" >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-2861686516\" class=\"text\">\n\t\t\n\n<h2>How does a commercial mortgage work?<\/h2>\n\t\t\n<style>\n#text-2861686516 {\n  font-size: 1.25rem;\n}\n<\/style>\n\t<\/div>\n\t\n<p class=\"p6\"><span class=\"s2\">When it comes to a commercial mortgage the lenders available would depend on the individual circumstances<span class=\"Apple-converted-space\">&nbsp;&nbsp;<\/span>of your case and every application is submitted to the lender in order to understand the deposit required and interest rate available.<\/span><\/p>\n<p class=\"p7\">The term can range from 2 to 25 years either on a repayment or interest-only basis.<\/p>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-1783066633 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-1455880876\" class=\"col medium-12 small-12 large-5\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n<div class=\"row align-equal\"  id=\"row-1166510244\">\n\n\n\t<div id=\"col-1423224092\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(251, 245, 240);\" >\n\t\t\t\n\t\t\t\n\n<h2>Types of finance<\/h2>\n<ul>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-usefontface=\"false\" data-contrast=\"none\">Senior Debt<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-usefontface=\"false\" data-contrast=\"none\">Stretched Senior<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-usefontface=\"false\" data-contrast=\"none\">Mezzanine Finance<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-usefontface=\"false\" data-contrast=\"none\">Equity Finance<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-usefontface=\"false\" data-contrast=\"none\">Land Acquisition \/ Planning Gain<\/span><\/li>\n<\/ul>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-1423224092 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n\t<div id=\"col-531326443\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(251, 245, 240);\" >\n\t\t\t\n\t\t\t\n\n<h2>Scenarios<\/h2>\n<ul>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Single or Multi Unit\u00a0<\/span><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Developments<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Commercial to Residential\u00a0<\/span><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Conversion using permitted\u00a0<\/span><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">development<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Barn Conversions<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Student Accommodation<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Part Complete Developments<\/span>\u200b<\/li>\n<\/ul>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-531326443 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n\t<div id=\"col-873352142\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(251, 245, 240);\" >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-960406394\" class=\"text\">\n\t\t\n\n<h2>Required information<\/h2>\n<ul>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Full details of the land\/property<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Experience \/ CV with past\u00a0<\/span><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">projects<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Asset and Liability statement<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Cost Appraisal<\/span>\u200b<\/li>\n<li data-charcodes=\"118\" data-font=\"Wingdings,Sans-Serif\" data-buautonum=\"8\" data-margin=\"450\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">Projected GDV with market\u00a0<\/span><span data-scheme-color=\"@000000,13,\" data-usefontface=\"true\" data-contrast=\"none\">comparables<\/span><\/li>\n<\/ul>\n\t\t\n<style>\n#text-960406394 {\n  font-size: 1rem;\n  line-height: 1.85;\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-873352142 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_534588010 {\n  padding-top: 60px;\n  padding-bottom: 60px;\n  background-color: rgb(255,255,255);\n}\n<\/style>\n\t<\/section>\n\t\n\n\t<section class=\"section dark\" id=\"section_1461621516\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n<div class=\"row\"  id=\"row-50185501\">\n\n\n\t<div id=\"col-1002952369\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"gap-550749353\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-550749353 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t<div id=\"stack-2819163238\" class=\"stack stack-row justify-between items-stretch\">\n\t\t\n\n\t<div id=\"text-3739051981\" class=\"text\">\n\t\t\n\n<h3><span class=\"TextRun SCXP177999195 BCX0\" lang=\"EN-GB\" xml:lang=\"EN-GB\" data-scheme-color=\"@FFFFFF,,\" data-usefontface=\"true\" data-contrast=\"none\"><span class=\"NormalTextRun SCXP177999195 BCX0\">Structured, bespoke service for property developers<\/span><\/span><span class=\"LineBreakBlob BlobObject SCXP177999195 BCX0\"><span class=\"SCXP177999195 BCX0\">\u200b<\/span><\/span><\/h3>\n\t\t\n<style>\n#text-3739051981 {\n  font-size: 2rem;\n  line-height: 0.75;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t\n<style>\n#stack-2819163238 > * {\n  --stack-gap: 0rem;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row row-large\"  id=\"row-1994089395\">\n\n\n\t<div id=\"col-1346833268\" class=\"col medium-7 small-12 large-7\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n<p data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:0.9,&quot;335562766&quot;:4,&quot;335562767&quot;:10,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\"><span data-scheme-color=\"@FFFFFF,0,\" data-usefontface=\"true\" data-contrast=\"none\">Solutions to fund development projects ranging from a single unit build, conversions under permitted\u00a0<\/span><span data-scheme-color=\"@FFFFFF,0,\" data-usefontface=\"true\" data-contrast=\"none\">development rights to developing multi-unit sites. With loan sizes from \u00a3100,000 onwards we can cater to a\u00a0<\/span><span data-scheme-color=\"@FFFFFF,0,\" data-usefontface=\"true\" data-contrast=\"none\">wide variety of projects. Having a commercially driven\u00a0decision making\u00a0process ensures timely drawdowns,\u00a0<\/span><span data-scheme-color=\"@FFFFFF,0,\" data-usefontface=\"true\" data-contrast=\"none\">helping ensure projects are completed on time and within budget.<\/span>\u200b<\/p>\n<p data-ccp-props=\"{&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:0.9,&quot;335562766&quot;:4,&quot;335562767&quot;:10,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\"><span data-scheme-color=\"@FFFFFF,0,\" data-usefontface=\"true\" data-contrast=\"none\">We have experience with residential, commercial and mixed-use developments each of which has\u00a0it\u00a0own\u00a0<\/span><span data-scheme-color=\"@FFFFFF,0,\" data-usefontface=\"true\" data-contrast=\"none\">technicalities. Our experienced consultants have helped new and experienced property developers through\u00a0<\/span><span data-scheme-color=\"@FFFFFF,0,\" data-usefontface=\"true\" data-contrast=\"none\">senior debt, stretched senior debt with or without mezzanine and equity finance.<\/span><\/p>\n<a href=\"\/commercial\/contact\/\" class=\"button primary is-link\"  >\n\t\t<span>contact us for more<\/span>\n\t<i class=\"icon-angle-right\" aria-hidden=\"true\" ><\/i><\/a>\n\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-532750150\" class=\"col medium-5 small-12 large-5\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div class=\"img has-hover x md-x lg-x y md-y lg-y\" id=\"image_1259180922\">\n\t\t\t\t\t\t\t\t<div class=\"img-inner dark\" >\n\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1020\" height=\"681\" src=\"https:\/\/yourmortgageapproved.co.uk\/commercial\/wp-content\/uploads\/2022\/10\/luxury-living-room-1199x800.jpg\" class=\"attachment-large size-large\" alt=\"\" srcset=\"https:\/\/yourmortgageapproved.co.uk\/commercial\/wp-content\/uploads\/2022\/10\/luxury-living-room-1199x800.jpg 1199w, https:\/\/yourmortgageapproved.co.uk\/commercial\/wp-content\/uploads\/2022\/10\/luxury-living-room-600x400.jpg 600w, https:\/\/yourmortgageapproved.co.uk\/commercial\/wp-content\/uploads\/2022\/10\/luxury-living-room-768x512.jpg 768w, https:\/\/yourmortgageapproved.co.uk\/commercial\/wp-content\/uploads\/2022\/10\/luxury-living-room-1536x1025.jpg 1536w, https:\/\/yourmortgageapproved.co.uk\/commercial\/wp-content\/uploads\/2022\/10\/luxury-living-room.jpg 1920w\" sizes=\"auto, (max-width: 1020px) 100vw, 1020px\" \/>\t\t\t\t\t\t\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n<style>\n#image_1259180922 {\n  width: 100%;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_1461621516 {\n  padding-top: 50px;\n  padding-bottom: 50px;\n  background-color: #273647;\n}\n<\/style>\n\t<\/section>\n\t\n\n\t<section class=\"section\" id=\"section_363862048\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n<div class=\"row\"  id=\"row-571596555\">\n\n\n\t<div id=\"col-652054746\" class=\"col medium-12 small-12 large-7\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n<div class=\"row align-equal\"  id=\"row-613759738\">\n\n\n\t<div id=\"col-1884726684\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(240, 247, 251);\" >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-3632636835\" class=\"text\">\n\t\t\n\n<h2>Property Refurbishments<\/h2>\n\t\t\n<style>\n#text-3632636835 {\n  font-size: 1.25rem;\n}\n<\/style>\n\t<\/div>\n\t\n<p class=\"p4\">For lenders, there are two kinds of property refurbishment:<\/p>\n<p class=\"p4\"><b>Light refurbishment &#8211; <\/b>This is where no planning permission\/building regulations are required and where there is no real change to the overall use\/nature of the premises. Common light refurbishments would include a new bathroom, new kitchen, redecoration, rewiring, new windows etc.<\/p>\n<p>Typically, refurbishment finance for standard buy to let houses and flats are available up to 75% of the end value with rates starting from around 5.5%. There are also finance options for more complex properties including HMOs and multi-unit freehold blocks of flats as well as finance for applications made through limited companies or from first-time investors. As you would expect, the more complex the proposition, the higher the rate you can expect to pay.<\/p>\n<p class=\"p4\"><b>Heavy refurbishment &#8211; <\/b>This is where there are structural changes to the property and planning permission\/building regulations are required.<\/p>\n<p class=\"p5\">New build? Conversion? Renovation? Part-build? Property development finance is funding for either major new building projects or comprehensive renovations. We can source finance for residential, commercial and mixed-use developments.<\/p>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-1884726684 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n\t<div id=\"col-1256006124\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(240, 247, 251);\" >\n\t\t\t\n\t\t\t\n\n<h2>How long can you borrow for?<\/h2>\n<p class=\"p7\">A property development loan is usually arranged on an interest-only basis and the term of the loan would typically be 6 to 18 months depending on the size and nature of the underlying project.<span class=\"Apple-converted-space\">\u00a0\u00a0<\/span>Usually, the interest can be rolled up into the loan, so there are no monthly payments.<\/p>\n<p>We negotiate finance requirements with a full panel of property development lenders and other financial institutions to provide the right \u2018match\u2019 to the project.<\/p>\n<p class=\"p7\"><b>When should you apply for finance?<\/b><\/p>\n<p class=\"p7\">Development funding without full planning consent is extremely difficult to secure unless you are highly experienced and have completed a number of development projects. Before seeking finance it is essential to finalise planning consents and have all relevant documentation available to show your lender.<\/p>\n<p class=\"p7\"><b>What sort of rate can you expect to pay?<\/b><\/p>\n<p class=\"p5\">There are no set rates for property development finance. That\u2019s where we come in. We have access to the whole market and work with a panel of specialist property development lenders and other institutions to find the right match and negotiate the best rate for each proposition.<\/p>\n<p>The lenders assess each application individually and price according to the strength of the development proposition and the borrower. We have years of experience in this field. We know what information should be included within an application and how best to present it for submission.<\/p>\n<p>That\u2019s not to say we can\u2019t give you an idea of what you might expect to pay. At the moment, a good benchmark starts from around 6.0%. Usually, the interest can be rolled up into the loan, so there are no monthly payments.<\/p>\n<p class=\"p6\"><span class=\"s1\"><b>What paperwork do I need to produce for development finance?<\/b><\/span><\/p>\n<p class=\"p5\"><span class=\"s1\">Because of the nature of this type of loan there is a large amount of paperwork required in support of an application because the lender has to take into account the future value and saleability of the project once it is completed and the short-term loan is repaid.<\/span><\/p>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-1256006124 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n\t<div id=\"col-1792194040\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(240, 247, 251);\" >\n\t\t\t\n\t\t\t\n\n<h2>Is a development finance loan the right choice for my business?<\/h2>\n<p><span class=\"s1\">Asking yourself a few simple questions will help you decide.<\/span><\/p>\n<ul>\n<li class=\"p2\"><span class=\"s1\">Do I want a short term loan to help me through my development project?<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">Am I confident I\u2019ll be able to repay the loan once the project is finished?<\/span><\/li>\n<li class=\"p2\"><span class=\"s1\">Can I provide all of the paperwork needed to access the development loan?<\/span><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-1792194040 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-1762519986\" class=\"col medium-12 small-12 large-5\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n<div class=\"row align-equal\"  id=\"row-742805941\">\n\n\n\t<div id=\"col-1233445991\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(240, 247, 251);\" >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-3934831121\" class=\"text\">\n\t\t\n\n<h2>How does it work?<\/h2>\n\t\t\n<style>\n#text-3934831121 {\n  font-size: 1.25rem;\n}\n<\/style>\n\t<\/div>\n\t\n<p class=\"p2\"><span class=\"s1\">Unlike a traditional mortgage lender that will consider the value of the property, a development finance lender will take the value of the completed build into account.<\/span><\/p>\n<p class=\"p4\">The loan amount is based on a percentage of the gross development value (GDV) at the end of the work, currently up to a maximum of 65% loan to GDV, with a maximum of 100% of the total costs. Typically we work with developers looking for funding from as little as \u00a3250k through to projects needing finance in excess of \u00a325m. There really isn\u2019t an upper limit but if you want to borrow a smaller amount, a\u00a0<span class=\"s2\"><b>refurbishment loan<\/b><\/span>\u00a0is likely to be more suitable.<\/p>\n<p>Loans are normally structured to ensure that the developer\u2019s contribution is utilised upfront with the lender providing the majority, if not all of the build costs. It is usual for funds to be drawn down in stages against architect\u2019s or quantity surveyor\u2019s certificates.<\/p>\n<p class=\"p4\">For example:<\/p>\n<p class=\"p4\"><b><i>A developer has planning permission to build three houses with the gross development value estimated at \u00a34.5 million. The total costs involved are \u00a33.1 million, made up of \u00a31.25 million for purchasing the land and \u00a31.85 million in build costs. A lender might agree to development finance of \u00a32.32m (limited to 75% of costs) structured as \u00a3320,000 initial advance followed by the balance in stages throughout the build.<\/i><\/b><\/p>\n<p class=\"p4\">Loan to project costs will be influenced by projected gross property development values but funding is available up to 75% of the purchase price and build costs.<\/p>\n<p>It is often possible to organise a loan to finance up to 100% of the property development costs where the borrower already owns the land on an unencumbered basis.<\/p>\n<p>Where the property developer is able to improve the planning consent post-acquisition, we can often negotiate increased levels of funding that recognise higher land and gross development values.<\/p>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-1233445991 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n\t<div id=\"col-1480116270\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(240, 247, 251);\" >\n\t\t\t\n\t\t\t\n\n<h2>A lender will need to see<\/h2>\n<ul>\n<li class=\"li8\"><span class=\"s6\">The current value of the property if owned or purchase price<\/span><\/li>\n<li class=\"li8\"><span class=\"s6\">Predicted end value<\/span><\/li>\n<li class=\"li8\"><span class=\"s6\">Your build or renovation costs<\/span><\/li>\n<li class=\"li8\"><span class=\"s6\">The timescale for the development<\/span><\/li>\n<li class=\"li8\"><span class=\"s6\">CV of experience<\/span><\/li>\n<li class=\"li8\"><span class=\"s6\">Details of professionals involved with your project<\/span><\/li>\n<li class=\"li8\"><span class=\"s6\">Copy of planning permission<\/span><\/li>\n<li class=\"li8\"><span class=\"s6\">Building regulations<\/span><\/li>\n<li class=\"li9\"><span class=\"s6\">Details of any Section 106s or any planning restriction if applicable<\/span><\/li>\n<\/ul>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-1480116270 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n\t<div id=\"col-149295118\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\" style=\"background-color:rgb(240, 247, 251);\" >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-3768800418\" class=\"text\">\n\t\t\n\n<h2>The process<\/h2>\n<p class=\"p6\"><span class=\"s1\"><b>Here\u2019s how the process works:<\/b><\/span><\/p>\n<ol>\n<li><span class=\"s6\">You submit an application that includes how much you paid for the site\/ property, <\/span><span class=\"s6\">your development or refurbishment costs, professional fees and build timescales<\/span><\/li>\n<li><span class=\"s6\">You will be offered some terms from a lender based on this information and supporting evidence<\/span><\/li>\n<li><span class=\"s6\">Credit searches will be run on your existing finances, experiences and the development location<\/span><\/li>\n<li><span class=\"s6\">Once the loan has been approved there will be ongoing monitoring of your project<\/span><\/li>\n<\/ol>\n\t\t\n<style>\n#text-3768800418 {\n  font-size: 1rem;\n  line-height: 1.85;\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-149295118 > .col-inner {\n  padding: 10% 10% 10% 10%;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n<div class=\"row\"  id=\"row-2054683823\">\n\n\n\t<div id=\"col-1474246761\" class=\"col small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n<p>If you can comfortably answer these questions, then a development loan might be what you need to support you through your project. If not, you might want to consider a bridging loan? We offer access to the most comprehensive list of development finance lenders and rates as low as 4.5% so why not use our calculator to work out if you\u2019d be eligible for a development loan and how much it would cost you?<\/p>\n<p>Solutions to fund development projects ranging from a single unit build, conversions under permitted development rights to developing multi-unit sites. With loan sizes from \u00a3100,000 onwards we can cater to a wide variety of projects. Having a commercially driven decision making process ensures timely drawdowns, helping ensure projects are completed on time and within budget.\u200b<\/p>\n<p>We have experience with residential, commercial and mixed-use developments each of which has it own technical criteria. Our experienced consultants have helped new and experienced property developers through senior debt, stretched senior debt with or without mezzanine and equity finance.<\/p>\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_363862048 {\n  padding-top: 60px;\n  padding-bottom: 60px;\n  background-color: rgb(255,255,255);\n}\n<\/style>\n\t<\/section>\n\t\n\n\t<section class=\"section\" id=\"section_1845279897\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n\t<div id=\"gap-937064346\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-937064346 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row align-center\"  id=\"row-1414944078\">\n\n\n\t<div id=\"col-1150179246\" class=\"col medium-7 small-12 large-12\"  >\n\t\t\t\t<div class=\"col-inner text-center\"  >\n\t\t\t\n\t\t\t\n\n<p><strong>Some of these products and services are not regulated by the Financial Conduct Authority.<br \/>The service promoted here is not part of The Openwork Partnership offering.<\/strong><br \/><strong>The Openwork Partnership Limited accept no responsibility for this aspect of our business.<\/strong><\/p>\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-1150179246 > .col-inner {\n  padding: 0px 0px 0px 0px;\n  margin: 0px 0px -50px 0px;\n}\n<\/style>\n\t<\/div>\n\n\t\n\n<\/div>\n\t<div id=\"gap-1727904759\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-1727904759 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_1845279897 {\n  padding-top: 0px;\n  padding-bottom: 0px;\n  background-color: rgb(229, 246, 255);\n}\n<\/style>\n\t<\/section>\n\t\n\n\t<section class=\"section dark\" id=\"section_812485811\">\n\t\t<div class=\"section-bg fill\" >\n\t\t\t\t\t\t\t\t\t\n\t\t\t\n\n\t\t<\/div>\n\n\t\t\n\n\t\t<div class=\"section-content relative\">\n\t\t\t\n\n\t<div id=\"gap-956741294\" class=\"gap-element clearfix\" style=\"display:block; height:auto;\">\n\t\t\n<style>\n#gap-956741294 {\n  padding-top: 30px;\n}\n<\/style>\n\t<\/div>\n\t\n\n<div class=\"row align-bottom\" style=\"max-width:1200px\" id=\"row-2019148946\">\n\n\n\t<div id=\"col-1532950062\" class=\"col medium-12 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n\t<div id=\"text-236747275\" class=\"text\">\n\t\t\n\n<h6>Contact us today<\/h6>\n\t\t\n<style>\n#text-236747275 {\n  font-size: 1.1rem;\n  text-align: left;\n}\n<\/style>\n\t<\/div>\n\t\n\t<div id=\"text-4266725621\" class=\"text\">\n\t\t\n\n<h2>We&#8217;ve helped thousands of developers. Get in touch.<\/h2>\n\t\t\n<style>\n#text-4266725621 {\n  font-size: 2rem;\n}\n@media (min-width:550px) {\n  #text-4266725621 {\n    font-size: 1.5rem;\n  }\n}\n<\/style>\n\t<\/div>\n\t\n\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\n\n\t<div id=\"col-1552039161\" class=\"col medium-12 small-12 large-6\"  >\n\t\t\t\t<div class=\"col-inner\"  >\n\t\t\t\n\t\t\t\n\n<a href=\"\/commercial\/contact\/\" class=\"button white expand\"  style=\"padding:5px 0px 5px 0px;\">\n\t\t<span>Contact us<\/span>\n\t<\/a>\n\n\n\n\t\t<\/div>\n\t\t\t\t\n<style>\n#col-1552039161 > .col-inner {\n  padding: 0px 0px 0px 0;\n  margin: -0 0px 0px 0px;\n}\n@media (min-width:850px) {\n  #col-1552039161 > .col-inner {\n    padding: 0px 0px 0px 30px;\n    margin: -70px 0px 0px 0px;\n  }\n}\n<\/style>\n\t<\/div>\n\n\t\n\n<\/div>\n\n\t\t<\/div>\n\n\t\t\n<style>\n#section_812485811 {\n  padding-top: 30px;\n  padding-bottom: 30px;\n  background-color: rgb(39, 54, 71);\n}\n<\/style>\n\t<\/section>\n\t\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-blank.php","meta":{"footnotes":""},"class_list":["post-964","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - 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