Property Development Loans Terms
Loan amounts: Minimum £50,000; maximum £1,000,000
Loan to Value: Maximum 50% of both the purchase price/initial value; and the end value (including any interest roll).
We may be able to lend more than 50% of the initial purchase price, if additional security is available.
Security: First charge on freehold or long leasehold (min 50 years remaining) residential or commercial land or property situated in England or Wales.
Planning Permission: Detailed planning permission must have been granted (where applicable) before we advance funds for the work; though it does not necessarily have to be in place for the initial purchase.
Loan Term: 3-18 months.
Arrangement Fee: From 1% of the loan – this can be added to the loan.
Interest Rate:
From 4% above Bank of England Bank Rate, subject to a minimum Bank Rate of 5%.
Exit Fee: From 1% of the Gross Development Value – based on sale price(s) or valuation, whichever is applicable.
Solicitors: We will appoint our own solicitors.
Any property used as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage. |
