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Property Development Loans

Your bank may offer 100’s of products and plans.
Promise Money has over 10,000

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About Property Development Finance

Whether you are an experienced property developer or somebody looking for a first-time project, we are here to discuss and liaise with you on every aspect of your scheme. We have a wide portfolio of lenders with a massive range of mortgages available to suit individual circumstances.


Typical development projects we look to fund:

  • Housing developments from single units to large sites
  • Apartments and flats
  • Part completed developments
  • Holiday accommodation schemes
  • Conversions – residential and commercial
  • Commercial developments
  • Retail units and offices

Lenders typically work to the gross development value (GDV), this is the end value of the development once finished and any funding agreed will be a percentage of this figure.

We can arrange with our lenders the following:

  • Land purchase and development cost funding
  • Stage draw down of development funds
  • Interest roll up – no payments due until the development is complete
  • Arrangement fees added to the loan
  • Flexible loan terms
  • 100% funding available with additional security
  • Mezzanine funding

Mezzanine Funding

When your clients need to raise additional funds toward a development we can arrange Mezzanine funding. This can increase the overall funding to 90% of the total development costs including site purchase.

Mezzanine finance is provided by specialist funders on a second charge basis, “topping up” a senior debt facility to complete the finance package.

Commercial and development finance is a complex area with numerous nuances. Please speak to an in house expert at Promise to find out the options available for you.

Other pages you might be interested in


    Find a development loan

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    By submitting any information to us, you are confirming you have read and understood the Data Protection & Privacy Policy.

    Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status. We may receive commissions that will vary depending on the lender, product, or other permissable factors. The nature of any commission will be confirmed to you before you proceed.

    More than 50% of borrowers receive offers better than our representative examples

    The %APR rate you will be offered is dependent on your personal circumstances.

    Mortgages and Remortgages

    Representative example

    Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66

    Secured / Second Charge Loans

    Representative example

    Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20

    Unsecured Loans

    Representative example

    Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.


    THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

    REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.


    Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774
    Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG

    Authorised and regulated by the Financial Conduct Authority – Number 681423
    The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages

    Website www.promisemoney.co.uk