Finding The Best Development Finance Lenders
Financing is vital to development projects, with a multitude of lenders to choose between. The right lending needs to be competitive, profitable, and structured around your timescales - which is why using an experienced broker is essential.
Whole-of-market brokers are independent and can recommend the lenders best suited to your development project, negotiating power to ensure you get the most favourable deal possible.
Using an experienced broker can make a world of difference to your development finance rates! We negotiate directly with lenders, ensure your application is as strong as possible, and compare products directly to help you make informed choices about the right solutions for your development project.
For more advice and guidance about development finance, contact the mortgage brokers at info@revolutionbrokers.co.uk or give us a call on 0330 304 3040.
How is Development Finance for First-Time Developers Different from a Mortgage?
The key difference between a residential mortgage and development finance is the duration. A typical residential mortgage runs for around a 25-year term, whereas development finance tends to be for between three months and three years.
When applying, the most significant factor is your exit strategy - i.e. how you will repay the loan at the end of the term.
In development finance, the exit strategy is usually the sale of the development when work is complete or remortgaging to pay back the short-term loan.
The more secure your exit strategy, the better a deal you will be able to negotiate.