We regularly speak to clients that are looking to raise finance for a property development. These vary from the first-time developer, to the experienced company looking to start their next project. And the first question is usually the same one: “How much finance can I get for my development?”
The answer is that it depends on several factors which the lenders take into consideration. The type of property, purchase price, square footage, the development costs and even the previous experience which you may have are all weighed up by banks and other lenders.
The trick when it comes to development finance is to present the lenders with an application for finance which highlights the strengths of any application, and mitigates their concerns. If that is done correctly, then it can be possible to get up to 100% development finance.
To find out about how to apply for development finance, speak to your local ASC director.