When developing property all developers must think of the financial element of it.
- How will it be funded?
- What financial loans, grants and schemes are I eligible for?
- Where should I get my development finance from?
- Why should I use a specialist provider rather than a traditional bank?
- Are development finance services short-term or long-term?
Many property developers and companies are ahead when deciding to take out a development finance service so they are aware of what it is, what they will receive and any other important criteria they should be made aware of.
However, not all property developers do. It is important that when deciding to take out a development finance loan that everyone is aware of what it is.
What is development finance?
Development finance refers to a short-term method of funding that can be repaid within 1 to 15 months.
Developers rely on development finance because it is used as a method to purchase properties and also used as a way to finance the building costs that are associated with that property.
Regardless of the property is a new build or an existing one, any developer can apply for one so they can have the correct amount of money needed for them to complete the project.
Hunter Finance is an example of a specialist provider that gives development finance loans to property developing companies of all sizes.
As a property lettings company, we work alongside Hunter Finance and have listed many of their residential homes on our website which have been very popular amongst our website viewers.
Unlike some high street banks and other development finance providers, they have a more approachable method towards taking out a loan that does not require long waiting periods.
They also have experience of lending over £75 million to multiple clients that have built a range of houses, apartments, offices, garages and bungalows.
When looking for a development finance provider, look into what they are offering and ensure you are not compromising anything for the first company that may be willing to say yes.