We provide finance to assist with the acquisition or refinance of buildings or sites with planning consent and their development to provide residential units for sale or letting throughout England, Wales and Scotland.
We can provide finance for the purchase of the site, construction costs, infrastructure and services, ancillary professional costs and the capitalisation of interest, within our standard lending criteria as specified below.
We will consider providing finance for all forms of residential development from conversions of existing buildings through to new build schemes and everything in between. Although we prefer to fund a whole scheme through to completion, we will consider funding for phased developments if that is the most sensible approach to the project. The Recent Transactions page of this site provides examples of the diversity of schemes supported.
We usually lend up to 55% of the gross development value of a residential development, although higher percentages up to 60% may be considered for the strongest proposals.
Loans are usually structured so that all construction and associated costs are covered by our loan facility, with any residual balance made available towards the acquisition or refinance and interest cover. In this way, the borrower's stake is invested at the outset.