QUICK QUOTE
Development funding
The right place for your Development Funding Solution
We aim to ensure that we find you the best possible financial solution for your individual circumstances and by working with one of our team of Property Finance Advisors, we ensure we fully understand your requirements and gather the appropriate information in order to move your application forward.
Development finance is where a client is looking to borrow funds to enable them to build or renovate property which will either be sold for a profit or built and then rented out.
Development Finance is available for both commercial and residential properties and can incorporate small or large developments including the following:
– Houses and flats
– Apartment blocks
– Houses of multiple occupancy (HMOs)
– Office blocks
– Student accommodation
– Factories
– Care Homes
– Pubs
– Restaurants
– Hotels
– Doctors
– Dentists
– Vets
– Retail and semi commercial including shops and flats
When assessing a development proposition, we consider a number of factors including experience of the developer, type of site and anticipated demand in the area for that particular type of property.
Lenders typically (subject to due diligence) will lend a percentage of the land value or land purchase cost and then a proportion of the costs to build the units subject to a full understanding of the ‘Gross Development Value’ ( GDV). The amount that a lender will look to lend at all these stages differs from lender to lender and by working with our extensive panel we can make sure that we find the right solution for your requirements. Lenders also require to understand the anticipated ‘Exit’ – whether that be sale or rental.
Despite the difficulties in the market we have successfully put in place facilities for varied schemes from single housing schemes through to large student accommodation units and continue to do so.
We have access to a large panel of lenders and so we continually review the marketplace to ensure that you receive the best possible terms and with a combined 134 years of experience amongst our advisers in the development finance arena we can ensure we can fulfil your funding requirements.
It is vital that whilst you concentrate on your business, you don’t get hampered by reams of paperwork and countless phone calls. We will act from the point of enquiry to the release of funds, taking care of negotiations with the lender and over-viewing all documentation ensuring you the best possible deal in the marketplace for your circumstances from the extensive panel of lenders we work with. 2XL Commercial Finance Ltd is authorised and regulated by the Financial Conduct Authority and is a member of NACFB so you can be sure you are dealing with trusted and fully regulated advisers.
If you would like to explore further any of the possibilities in this area then please do give us a call on 01625 421 976 or drop us an email with your enquiry details and name and contact number at info@2xlcommercial.com and one of our team of advisers will give you a callback.
