We arrange Property Development Bridging Loans for businesses and individuals in the UK.
Our property development finance is a specialist type of finance which can be used to fund the purchase, construction, conversion or refurbishment of buildings or land.
Designed to be used when a normal bridging loan is too short term or cannot offer the capital needed to progress a project, it is a specialist product designed around the timescales and financial requirements specific to the construction sector.
At the end of the building or refurbishment project, the property development finance facility is normally repaid through sale of the properties or through a re-finance agreement.
The interest rates on a development loan will depend on the size of the project which is being funded, the value of the security on offer, the value of the property once building work is completed and the amount of money being borrowed.
Experienced property developers with more established track records will generally benefit from the most competitive interest rates for development finance funding. However, Finbri are happy to work with first time property developers and will make a lending decision based on the strength of the proposed project plan.
For example – if a borrower is looking to purchase land with planning permission, or obtain a change of use on an existing building to build 10 luxury residential properties, they may first consider a bridging loan. However the costs of construction would exceed the value of the only asset they have (the land), and the short time scales inherent in bridging loans would not offer the time needed to successfully finish construction – meaning that a bridging loan would not be a suitable choice for development finance in this scenario.
Development Loan Lending Criteria
- Loan to value (LTV): 75% maximum
- Loan term: 3 to 24 months
- Interest options: serviced, retained, rolled-up
- Decision: immediate
- Loan available in the UK and Europe
- No credit, bad credit considered
- Loan amount: £25,000+
- Interest rates from: 0.44%
- Exit strategy: sale or refinance*
- Completion: 10 to 14 days
- No early repayment fees
Find the best rates on your Development Bridging Loan finance
We offer experience-based, impartial information and accessing quotes from the whole of market. Because we have incredible relationships with most of the UK's lenders we're also able to move fast - seriously fast and can give you an in principle decision within 24 hours.