Property development finance is a high-stakes business, with pressure to deliver completed, market-ready projects in time to repay development loans.
At Hunter Finance, we have been financing construction and development projects for SMEs for over 10 years and know from experience that in the complex world of property, you need contingency plans in case unforeseen events and complications get in the way.
While the schedule for building and completing a property development project is calculated carefully by the developer, working in association with lenders and Chartered Surveyors, there are sometimes unexpected delays.
This can have a significant impact on finances because the terms of a development loan require strict adherence to a timetable of building and repayment.
At the heart of refinancing decisions for lenders are two main issues:
Having an existing loan out for repayment does not disqualify a developer from securing refinancing for a project.
However, the terms of the existing loan and the ability of the developer to continue their repayment commitments are always taken into account by a lender, including by Hunter Finance.
At Hunter Finance, we offer bridging loans of £100K to £1million, which can be rapidly arranged to ensure your project does not stall and risk serious financial consequences.
These loans are:
Refinancing at the end of a property development project can have two distinct benefits for a developer:
The rates of interest and the duration of a refinancing loan from Hunter Finance depend very much on the project in question and we are always prepared to look at specific circumstances before offering a rate of interest for refinance loan capital.
In each case, we would need to clear the existing charge on-site if there was one. Thus refinancing the site. Rates vary and are typically based on the loan value percentage, product and location.
However, the below would be a usual model for development refinancing.
Call us today on 01825 749721 to talk through how refinancing or a bridging loan could help see your property development project through to completion.