Mortgages For Property Developers / Development Mortgage

What is property development finance? A guide to property finance & our loan & mortgage options

Property development finance is a specialist area that covers the provision of finance for everything from buying vacant land for ground-up development to buying a property to refurbish and sell on or let, as well as businesses seeking to purchase additional premises.

Property development mortgage experts like First Choice Finance understand the particular requirements of borrowers who want advice on how to fund property development projects, and can recommend and source the best products for your particular circumstances.

We understand that every project is unique and each one requires careful consideration of the most effective source of funding. That`s why First Choice Finance works with all our clients on a one-to-one basis, to give tailored advice, for every project.

We also understands that when it comes to securing property development funding, time is of the essence. Often traditional mortgage products are not suitable therefore, because of the long application to completion time involved. We can talk you through quick turnaround financing options to give you access to funds swiftly, letting you get on with your project.

Residential Property Finance
Whether you are buying a derelict property to refurbish and sell-on, or planning a new property development, First Choice Finance will find you a loan to suit the size of your project. Our tailored financial solutions will help you secure a loan with flexible terms and exit routes to enable you to buy and sell quickly without incurring additional penalties.

Business Property Finance
If your business is expanding its property portfolio you`ll want to find the most cost-effective way to fund this growth. We understand that business-owners want to move quickly and secure a property, or the funding to develop one without restricting cash flow. We have the expertise and access to the right lenders to find you the best finance for your company.

Property Auction Finance
When you buy a property at an auction house you`ll need to pay the balance quickly – within 28 days – or you lose the property. We have access to financial products that can be in place quickly, and ensure that you don’t lose out on your new property. Our personal service will ensure that you have everything in place to bid confidently at auction.

Bridging Loans
These short-term, interest-only loans are ideal for funding property development projects. Application and completion times are short, letting you get on with your project. The amount of a bridging loan is determined by the market value of a property. We have a range of options from £100k to £5 million, over a few months to two years.

How to Get Property Development Finance Talk to a specialist company

The first thing to do is to talk to a company like First Choice Finance that specialises in securing finance for property development projects. That way, you can be sure that you’re getting the best possible advice about the property development mortgages, loans and financial products available to you.

We’ll work with you to investigate the finance options available to you, and help you pick the most appropriate one for you and your project.

To save you time, before you contact us make sure you have clear idea of you property project. You will need to have identified not only what your project is, but also considered the projects viability, costs, final value and the profit margin.

Once we’ve spoken we’ll begin the process of applying to the most suitable lender for your project. Some of the things you may want to consider pulling together to support your application are:-

• Evidence of any previous property development projects you have been involved in
• Plans/architects drawings
• Details of planning permission, including any restrictions or requirements
• A breakdown of your costs
• An estimate of the end value of the project
• Timetable for release of funds related to each stage of the project
• Schedule of works
• Financial accounts
• Exit strategy (i.e. how you intend to pay off any loan)
• Once a lender has been identified, and an application has been submitted, a surveyor will provide a valuation report. The valuation in this report will be the main factor in determining the amount that you will be able to borrow.

First Choice Finance Trustworthy, Bespoke, Independent, Peace of Mind

We give every one of our valued customers a completely personal service. First Choice Finance understands how stressful the property development process can be, even if you’re an old hand. We also know that the variety of products available can be confusing. That’s why we consider each development project individually to provide bespoke property finance solutions, to every client; whether it’s your first property project or your 101st.

First Choice Finance isn’t tied to any specific lender. This means we can consider many different products available on the market, and ensure the one we recommend is the most suitable for your particular needs. We have experience of working with lenders across the board, offering a range of options.

Quick Turnaround on Loans up to £5 Million
We’ll help you find lenders who’ll give you a quick decision on your application so your project doesn’t have to be put on hold. Loan amounts of between £100,000 and £5,000,000 are available to eligible borrowers, and our experts can help you secure the funds that you need for your development.

Mortgages & Remortgages 8.4% APRC. Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.