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Development finance is funding to help you turn a development project into a dream home or profitable investment. The most common reasons for applying for development funding are new builds, refurbishments or conversions and developing to let.<\/span><\/p>\n 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. We are experts in helping clients to arrange development finance for projects with planning permission throughout the UK.<\/span><\/p>\n If you are a buy to let investor wishing to carry out a light refurbishment of your single investment property, or an experienced landlord carrying out a heavy refurbishment of a property in your portfolio, you will need development finance. Likewise, if you are an experienced developer building a multi-unit mixed-use scheme, or an individual looking to fund a self-build residential project, you will also likely require development finance.<\/span><\/p>\n Typically, lenders will restrict borrowing to around 75% of the total cost of the build, providing it doesn\u2019t exceed a gross development value (GDV) set by the lender. For example, if the cost of a development is \u00a31 million, and its projected GDV is \u00a32 million, with the lender setting 60% GDV as the maximum loan value, the lender will be happy to lend the \u00a3750,000 requested as it is below \u00a31.2million \u2013 which is 60% GDV.<\/span><\/p>\n This service is offered by referral to a third party.*<\/strong>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":" [vc_row][vc_column][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space height=”50px”][vc_column_text] Development finance is funding to help you turn a development project into a dream home or profitable investment. The most common reasons for applying for development funding are new builds, refurbishments or conversions and developing to let. You might have a portion of your back garden you can section off for a new-build, … <\/p>\n