- 24th May 2022
- Posted by: DMM
- Categories:
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We were pleased to place this opportunity for development finance in Wiltshire where our client had a site for two detached houses in a quiet location.
Funding Headlines:
- Project Location: Malmesbury, Wiltshire
- Project GDV: £1,600,000
- Funding Type: Development Finance
- Facility: Around £600,000
- Facility Period: 18 months
- Exit Route: Open Market Sales
- Security: 1st Charge
Development Finance Criteria
- Loan to Cost (LTC) – this can be as high as 100% in some cases
- Loan to Value (LTV) – can be to a maximum of 80%
- Facilities from over £25,000 to more than £50 million
- Maximum term typically 36 months
- Geographical area – UK wide but each lender will have their own preferences
- Development types – Each lender will have their preferred development types, sometimes only residential
- Experience – Many lenders will want to see a proven track record but some will accept first-time developers
- Finance structure – Some lenders will accept 2nd charge equity or mezzanine input
If any of the above terms are unfamiliar then you might like to read our article on finance jargon.