Can a Development Loan Help Me?
Budgeting a property development can initially be difficult. Securing funding from high street banks can be incredibly frustrating given new guidelines and criteria’s that prevent them from providing funding for feasible property development projects.
“Property Development lenders are a popular financial solution that is used by experienced property developers and for property developers starting out.”
Using property finance from a trusted lender can be beneficial for your development. A common loan that is commonly used by development lenders is a bridging loan. There are various benefits for securing a bridging loan. This includes:
1) Finance over a short-term period
The biggest advantage of a bridging loan is that it provides finance over a short-term period. They can be incredibly flexible for the time period and can range for a few weeks to up to twelve months.
2) Can Help Start or Continue a Project
Because a bridging loan is a short-term financial package, they’re usually paid out extremely quickly. A bridging loan can be vital in ensuring that construction of a property begins straight away without any delay.
3) Cover Initial Cost
The main aim of property development is selling the properties built for a profit. However, property development can take a considerable amount of time before it can be listed and sold. A bridging loan can support the cash flow of the project until properties can be sold.
“Bridging loans are designed solely for property developers. They’re created to effectively help a development project and ensure that it remains financially feasible for you.”
We strongly recommend researching financial options available to you. Assess the conditions and clauses of taking out a bridging loan and ensure that it’s suitable for your property development project.
Feel free to check out what other services, such as cosmetic dentistry or health services are available in the London area.