For intermediary use only.
A development funding product aimed at assisting development professionals requiring additional funding and/or time to purchase or complete building projects.
For specific details please contact our team to discuss.
- Residential developments inside the M25
- 1st or 2nd Charge
- Project must be 65% complete and or watertight
- LTV = 70% of current value – gross loan (retained interest)
- Staged payments – drawn down to max 70% LTV
- Minimum loan / drawdown = £100k
- Maximum Term 24 months
- Rates from 1.5% per month
- Arrangement Fee – 3% (1% to the broker)
- Application form (individual or corporate)
- CV providing development track record
- Asset and Liability statement
- Full Credit Search
- Explanation of why project requires “Angel Funding” at this stage
- Executive Summary of the project to include;
- Planning Consents
- Architects drawings
- Programme of costs
- Schedule of works and timelines
- Sales strategy to support planned exit / GDV
- Details of Quantity Surveyor