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Property development finance is short-term finance which property developers often use to fund the construction costs of their project; we can also often fund part of the purchase of a particular plot. We would take a first legal charge over the title of the development plot in question the usual term we lend over is typically 12 months..
Property development finance or property development loans can be used for new builds, refurbishments and conversions and the structure of the loan can depend on the project in place. Typically, funds will be released in stages/tranches over the development where we would release funds on completion of pre-agreed stages. On completion of the property, the property developer would look to sell or rent out the properties and pay back the property development loan.
Bishopsgate Funding has specialised in property development funding for 20 years and have funded an array of experienced and inexperienced property developers. We provide a truly personal and helpful funding line and would be delighted to discuss any further queries you have.
Property development finance can be defined with different terms. At Bishopsgate Funding, we are the principal lender and can look to fund various types of projects. We provide the following types of development finance:
- New Build Finance
- Pub Conversion Finance
- Chapel Conversion Finance
- Refurbishment Finance
- Semi-Commercial Finance
- Bridging Finance
- Auction Finance
As a privately owned Finance Company, we offer the kind of flexibility and flexibility that is hard to find these days.
With development loans, the facility is not just paid to the developer in one instalment, but in tranches over the build term. It is therefore important that you as the developer can truly trust your development lender. You need to be certain to get all your instalments at the right amount and right time to insure your project runs smoothly.
The Bishopsgate Group has been established since 1997 and truly understands development. With our extensive experience, you can be confident that you will get the funds when you need them!