About property development finance

Whether you are an experienced property developer or somebody looking for a first-time project, we are here to discuss and liaise with you on every aspect of your scheme. We have a wide portfolio of lenders with a massive range of mortgages available to suit individual circumstances.

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Typical development projects we look to fund:

• Housing developments from single units to large sites
• Apartments and flats
• Part completed developments
• Holiday accommodation schemes
• Conversions – residential and commercial
• Commercial developments
• Retail units and offices

Lenders typically work to the gross development value (GDV), this is the end value of the development once finished and any funding agreed will be a percentage of this figure.

We can arrange with our lenders the following:

• Land purchase and development cost funding
• Stage draw down of development funds
• Interest roll up – no payments due until the development is complete
• Arrangement fees added to the loan
• Flexible loan terms
• 100% funding available with additional security
• Mezzanine funding

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Mezzanine Funding

When your clients need to raise additional funds toward a development we can arrange Mezzanine funding. This can increase the overall funding to 90% of the total development costs including site purchase.

Mezzanine finance is provided by specialist funders on a second charge basis, “topping up” a senior debt facility to complete the finance package.

Commercial and development finance is a complex area with numerous nuances. Please speak to an in house expert at Promise to find out the options available for you.