Ten Tips for Raising Development Funding

Ten Tips for Raising Development Funding

Having found a great site for a project, the next step is to find finance; the following are our ten tips for raising development funding.

1. Firstly, check that the lender you are approaching will consider the type of development you are considering, the geographical location and the possible loan to cost ratios. It will just save everyone’s time.

2. If your loan to value is short of the lenders criteria then consider what other security you may be able to offer

3. You will have thoroughly examined the site and the opportunities but explain this clearly. Detailed research with examples of comparable sales

4. Of all the tips for raising development funding, a key element is to have a detailed breakdown of your costs. But keep this easy to understand at the outset but have it ready and detailed.

5. Many lenders will want you to have planning consent in place

6. Demonstrate your development track record and career history

7. Show that you have followed a thorough tendering process for the contractor and have the details of a JCT contract in place

8. Complete any application form quickly and thoroughly ensuring your numbers cross check with any additional appraisal you may have provided

9. Explain your exit plan and have a backup solution if possible such as a BTL refinance

10. Make sure you are accurate and honest with all information provided

For further tips on for raising development funding then contact our funding support team here.

Developer Money Market is an independent comparison website that is designed to help property developers instantly search online for property development funding.  Apply for your property development funding here.