First, let’s take a look at the basics. Property development finance can be used for either small or large scale construction, ranging from apartment renovations and home builds all the way up to major new building projects or significant apartment block renovations.
It’s important to know there are no set rates for development finance. That’s where Money Elements comes into the picture. We work with property development lenders and other institutions to find the right match and rate for your needs. Lenders then process your application individually and price it according to the strength of your development proposition. Because of our years in the industry, we know what you need in your application to succeed through the process.
When it comes to securing development finance, Money Elements knows that lenders look to their own safety first. They want to see a successful track record from the team behind the development. If you don’t have an established history with the lender or a sound track record in property development, it’s essential to put your best foot forward. Money Elements ensures that the professionalism of your finance presentation is top-notch.
Generally speaking, your development finance loan is structured so the lender provides up to 70-80% of the cost of the project. This is not the same as the end value, and the lender expects you, as the developer, or your equity partners, to provide some funding, as well.