Development Finance

Looking for development finance? This type of short-term finance is used by property developers, builders, landlords, companies or individuals that need to fund 100% of the refurbishment or in the case of a ground up development the entire development costs. These loans are typically for experienced borrowers, however at Next3Gen Associates we have a wide panel of lenders that can offer development finance for first time developers. For example, development loans can be used:

• When developers, landlords, builders or individuals want to refurbish, develop or convert a residential or commercial building to sell within a 12 -24 month term
• When a borrower wants funds to buy a property at auction
• When the borrower needs to secure finance against a property that is uninhabitable, and unsuitable for a standard mortgage lending purposes, a development loan could be obtained that would give you up to 65-75% of the value and 100% of the build and associates cost (pending refurbishment.)

You would not usually apply for a development finance loan on the high street with your usual bank, as this is a specialist product that tends to be offered by specific development finance lenders or intermediaries.