From first time property refurbishments to multi-unit development projects finding the right finance to match your experience and project size is key. We have seen an increase in specialist lenders enter the market in this space which provides the consumer with a better range of solutions. The varying terms on offer can make deciding on the right provider a tough decision, therefore working with a broker that is up to speed with the ever changing market will ensure you get access to the right deal for you.
We work with a variety of lenders from high street banks to pure development & boutique lenders that will fund the right project. Terms on offer will depend on a number of factors, such as;
your experience – experienced developers will be more attractive to high street banks which will usually offer the lower end of the rate scale.
contribution – the more you can put in to the project the more options you will have open to you
the amount of borrowing – smaller build projects may be better suited to bridging finance
end day unit value – some lenders will have a maximum single unit price
If you are a first time developer you will need the guidance of a specialist who will show you what is possible and more importantly work with you to package the deal for the specific lender. If you are an experienced developer that already has a good relationships with a high street bank, you may require higher gearing to retain cashflow for further project or looking to understand what other terms may be available. Either way Wooton & Bean SLS will happily discuss the options available to you.
Your buy to let property or commercial property may be repossessed if you do not keep up repayments on your Mortgage.