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.