What we can do for you
A development loan takes into account the Gross Development Value (GDV) which is determined by an Estate Agents opinion in writing or through the one of the Property Portals online. This is later confirmed by a lenders panel valuer inspecting the site. It’s worth mentioning that we also have lenders that do not need a valuation but we can talk you through this and what they will require.
On the majority of the deals we structure for our clients 100% development finance is offered to cover construction and/or conversion costs and even some of the professional fees, i.e Architects, Structural Engineers, Quantity Surveyors and Warranties. This also takes into account rolling up the interest onto the loan unless you wish to service it monthly. This is your choice.
The purchase price/value of the plot you are buying is taken into consideration on your project unless you already own it and it is unencumbered.
Talk to us about clever lending by paying your purchaser once you have built and sold the plot. Maybe we can structure a ‘No Money Down’ deal!
“I just wanted to drop you a line and say it's been a pleasure working with Lesia Chomiak. There was a delay on the vendors side but I must say the transaction was very simple and not overly complicated like other lenders! She is a credit to your team”
“In one of my most stressed/testing times, Karl has been an absolute star. Could not be more helpful, and I have to say stands out head and shoulders above the other 3 brokers I have been dealing with.”
“When the possible seems impossible, one phone call to Esther Bennett and her amazing team is all you need to do! Well done to the brilliant Development Money team!”
“Just a mention and a massive thank you to Esther Bennett and her team today for the very inspiring meeting we had today. I cannot speak highly enough of her attention towards her clients in working out the best ways forward to allow financing of property purchases using creative finance. Thank you Esther, looking forward to working with you for the long term. Anyone else looking at Bridging and Development finance..... don't look any further!”
Sampson Homes Ltd
Mark Ellis … excellent staff member who talked me through my options. A credit to the Company.
Mark Ellis … Many thanks for your time on the phone yesterday and I appreciated your honesty. I will definitely be in touch again when I have another project to fund.
For the past 4 months I have been tirelessly working to refinance onto a Development finance package. Don't let anyone let you think it's easy! I have been more than lucky to have a great team of brokers, solicitors and friends and family behind me. So pleased today to hear it's all gone through as planned. Now the real work can begin. Thanks to Karl Mitchell, Esther Bennett at Development Money. (Testimonial taken from Development Money Bridging Finance, Development Finance and Commercial Finance Facebook page)
Had numerous dealings with Esther and her team. They have helped with Commercial refinancing and Bridging loans for our developments. Great communication, great service and great people!