What is Development finance?
Development finance is a mortgage or loan designed to help you fund the building of a property that you intend to sell or rent out once it’s complete. You might have a portion of your back garden you can section off for a new-build, or perhaps you have inherited an older property that you wish to knock down to make space for new homes or apartments. Transparent Mortgage Services is an expert in helping clients to arrange development finance for projects with planning permission throughout the UK.
Why is Development finance difficult to arrange?
Development finance is a specialist area of the lending market because it is riskier for lenders than a standard mortgage. Rather than lending on an existing home that can be assessed and valued, you are asking a lender to loan money based on your plans, and your personal commitment, experience and tenacity to see your project through to completion.
How can Transparent Mortgage Services help with Development finance?
As mortgage experts with years of experience in development finance, we have personal links direct with development finance specialists.
As long as you have planning permission and personal funding of around 30% to 40% of the overall project budget, we can help to organise development finance for a wide range of projects including:
- Converting a single dwelling on land you own to a block of flats or apartments
- Finance at various development stages, from ground up to foundations, footings, water tight and fittings
- Knock-down projects where you are demolishing an old existing property to develop a new build