Property development finance plans for all types of developers
Getting into property development is not an easy decision. It requires a lot of planning, thought and finance in order to be able to pay for the development project.
But it is hard to get the financial backing for it. Many banks reject people based on their credit score and not believing there is potential for the property to do well.
It’s easy for developers to feel demotivated because of the lack of opportunities they have in order to pay for their property development
Hunter Finance is unlike traditional banks as they prefer an approach that focuses on potential and giving a quick ‘yes or no’ in order to get the property development started.
Am I eligible?
Hunter Finance doesn’t loan to only one type of person, they offer private property development finance to:
- Private individuals
- Property developers
- Property companies
- Building companies
- Real estate developers
- Commercial developers
Their customers are based around London, Sussex, Berkshire and other surrounding areas.
Unlike the traditional banks or other financial loan providers, their aim is to give everyone that is passionate about developing a property a fair chance to have access to the adequate amount of finance. Or perhaps, you need a mortgage broker.
How does the loan structure work?
Their loan structure works in a seven-stage cycle:
- Loan to value: They lend up to 60% of the money
- Foundations: Access to the first set of the funding so the work can begin
- Wall layout: The next stage of funding is released when the foundations have been checked
- Roof: Shell and the roofing of the buildings are checked
- 1st fix: Inserting the cables, inserting the water supple and constructing the walls, checking the floors are complete, and ensuring the ceiling is finished completion
- 2nd fix: Having the electricians, plumbers and carpenters finish their final work
- Completion: The final funds are available to access in order to finish the property and prepare for the sale
For more information about the different methods of private property development finance, you can read ‘how to finance your property development’.
Making property dreams a reality
Through their multiple private property development finance options, they have loaned £75,000,000 to property developers so they can start the property development process.
Their property portfolio ranges from apartment buildings, detached houses, semi-detached houses and farm houses.
Contact us by email on sales@uk-life.co.uk