Development Finance
Development Finance is available for both to finance the building of new properties as well as those which require major refurbishment/structural works.
Each project is different due to the large number of variables involved in the projects and with over 3 decades’ experience working with property developers Simon is well placed to assist in finding the most appropriate options needed for the development to take place.
CFS has relationships with a large range of loan providers including the Clearing Banks, where a project meets their criteria, to property development lenders of varying size. So whether the project is for a pair of semi-detached properties or a dozen detached properties CFS will (providing the project works) find a suitable solution for the client.
The level of funding available from a lender is based upon:
The value of the existing site.
The costs involved in completing the project.
Whether the project is completed in stages or at one time.
The time required to complete the work – the longer the term the higher the finance costs.
The end value of the new builds i.e. Gross Development Value (GDV).
Most lenders will require:
Full details on all of the above.
An experienced client with an appropriate project management team.
Good credit track records for both the business, if a company is involved, and the individuals.
Realistic cost projections including contingencies.
A sensible level of cash input by the client whether this be cash or an unencumbered site.
For any queries just contact us.
