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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.