Property development finance is funding for either new building projects or comprehensive renovations for developments like housing estates, luxury homes, office blocks converted to flats. Property development finance is perfect for residential, commercial and mixed use properties.
Property development finance is normally structured to ensure that the developer’s contribution is utilised up front with the lender providing the majority, if not all of the build costs. The loan amount is normally 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 75% of the total costs.