A ‘whole of market’ development finance broker claims to offer customers the opportunity to choose from a wide range of lenders.
However, the reality is quite different.
Development finance brokers serve as a middle-man between the borrower and the lender.
The key pitch of a whole of market broker is that they can get a ‘better deal’ by searching far and wide across the market to find the perfect product for you.
Whole of market brokers often portray themselves to customers as being able to negotiate the best possible deal for their project by consulting with lenders from across the market.
While this sounds like an excellent deal for anyone considering development finance, particularly first-time developers, there is a catch.
Whole of market development finance brokers can create a curated panel of lenders representing different areas of the market.
The reason for doing so is that the broker can then claim to be ‘whole of market’ while in reality only covering a fraction of the market.
Some whole of market brokers can even arrange favourable partnerships, meaning both parties benefit from getting new development finance clients on board without offering the best possible deal to borrowers.
Without seeing the full list of lenders that a whole of market broker is planning on consulting, it is difficult to know whether they are offering a legitimate service.
For first-time developers, choosing the right company to finance a project can be overwhelming.
It is often first-time-developers who are lured in by the promise of the best possible deal.
We are not brokers – we loan our own money as a reputable private lender.
We offer fast development loans to a range of developers.
This includes first-time developers, builders and construction firms, as well as large commercial housing businesses.
We do not rely on other financial institutions, meaning our customers can deal directly with us and we can support them through each stage of the financing process.
One of the most challenging aspects of starting a property development project is being eager to get the project off the ground, but having to wait around for funding.
By choosing Hunter Finance, customers can relax safe in the knowledge that we won’t be consulting external companies or outsourcing.
We will work with you to create a suitable plan, whether you are building your new home or housing development.
As we are private lenders using our own money, we can be flexible with our lending criteria. This means that we can support clients who have been refused by banks and accept applications from complex cases.
This is one of the key reasons why we set up Hunter Finance. We also offer a fast decision-making process, as we do not need to liaise with external organisations.
If you have a plan for a property development project, big or small, we aim for a quick turnaround from the moment you submit your plans to getting the funding over to you.
Why wait to start your dream project?
With fewer companies involved in the development finance process, we do not charge unnecessary extra fees.
Hunter Finance works independently to offer you reasonable interest rates and flexible plans; we also do not charge additional fees or commission.
As we lend our own funds, there are no set rates for our property development loans. Interest rates are set on a case-by-case basis.
Typical interest rates are charged at between 8- and 18% per annum; this is calculated on the risk profile of the development plans, the length of borrowing and the overall security offered.
To find out how Hunter Finance can help you, get in touch today.