Streamlining the complexities of property development finance
From the first initial enquiry to draw down of completion when applying for a development loan, you will go through the following steps when applying for finance:
Enquiry - Once you've found a suitable plot, land or project and have the necessary planning permissions, it's time to contact us about securing development finance.
Indicative Terms - After your consultation with one of our team members and you've agreed upon a lender with the initial solution discussed (subject to change), we'll provide you with indicative terms from the lender within 24 hours of submitting your enquiry.
Agreement in Principle - The lender will outline the Offer for Finance and disclose the fees associated with the deal. This offer will be subject to various conditions, including some documents you might need to present.
Site Visit - In some cases, but not all, the lender will request to visit the site and to meet you, as well as the professional contractors you have assigned to the project.
Underwriting - We will now fully underwrite your loan. The lender may request additional information. Once satisfied, the contract terms will be confirmed, incorporating all costs and fees.
Valuation- At this stage, a professional surveyor will evaluate the viability and potential profit of the property.
Offer - Once your lender is satisfied with all the information you've provided, they'll offer you a formal offer. After this point, your solicitor will be notified and they will become involved in the process. Make sure to choose a solicitor who has experience in development loans, so they're no delays in the process.
Completion- Once completion has taken place, the funds will be released.