- 19th September 2019
- Posted by: DMM
- Category: Development Finance
All property developers have a need to review and compare property development finance when considering how to fund a new project. Whether the project is a multi-million pound development of new houses, a high volume complex of apartments or simply a single unit for refurbishment; the level of interest paid to a bank needs to be considered carefully.
The traditional route to compare property development finance is to trawl all of the usual lenders and apply to each in turn for their latest product information and criteria. Some property developers may have an established lender with whom they are familiar or may choose to find a broker to do the leg work for them. Each option is sensible and introducing brokers, like ourselves, will find a selection of choices to consider.
When seeking to compare lending rates the trawl through the many dozens of lenders and hundreds of product options, can be time consuming, and a frustrating business with always the possibility of missing an opportunity. Brokers should take much of these issues away and will do the legwork for a developer, however, this may come at a cost of their introduction fee which is usually added to the eventual facility.
Developer Money Market looked for an alternative option for property developers to find their funding in a an easy, quick way where they can compare property development finance online
An Alternative Way to Compare Property Development Finance
Consequently, Developer Money Market as a specialist property development finance broker looked for an alternative option for property developers to find their funding in an easy, quick way where they can compare property development finance online.
In much the same way as most of us will search each year for alternative car insurance quotations, or compare different energy suppliers; we asked ourselves, why can’t this be done for property development finance?
The idea has now resulted in our property development loan comparison service that enables potential borrowers to search and compare property development loans quickly and easily online. No waiting for someone to call back, no filling out of multiple forms for different lenders, but instead an immediate online comparison of lending products.
Using the key lending criteria from specialist development funders, our quick comparison guide also means that multiple loans may be applied for with one further click of the mouse.
Not only will Developer Money Market allow you to compare products and apply for them all in one place, we will also professionally package the information provided (which can include supporting documents) and send it to the available lenders. Needless to say, where a particular lender is interested to pursue an application, then further information will need to be supplied in due course, but that crucial process of finding funding is underway!
For property developers that use our online service then a reduced introduction fee (payable only upon a successful drawdown) is at a reduced rate of just 0.5%*. Developers may then manage the process themselves together with back up support from Developer Money Market.
This information is presented in good faith and should not be considered financial advice. Developer Money Market is a trading name of DMM Technologies Ltd and is not regulated by the Financial Conduct Authority (FCA) and nothing within this information is intended, or should be accepted, as financial advice. No information within this website is intended to be a promotion or offer of financial services by Developer Money Market or any form of regulated services. Financial commitments should only be considered having taken appropriate advice from a qualified independent representative.
*Calculated against the gross facility amount.