Construction Finance

Has your bank pulled your finance offering?

Does your bank not understand your construction project?

Is your bank insistent on introducing excessive red tape which is slowing you down?

Because the lending market has tightened, has your bank taken this as an opportunity to charge you excessive fees and interest rates for your construction finance?

Sound familiar? These are the most common questions we are asked at Worldwide financial planning by construction developers like yourself, frustrated by the current construction lending market.

Call us now for your free initial consultation to find out how we can help you.

Call your FT award winning independent commercial adviser in confidence now on 0800 0112825 or complete the contact form and your dedicated adviser will contact you.

Our fee guarantee: you won’t pay any fees unless we can help you.

How will Worldwide assist me?

It’s a straightforward service. These are the steps we take to gain you your funding.

Step 1

Contact us and we will assign you your own dedicated adviser who will stay with you through the entire application process.

Your initial consultation with your adviser will be free of charge and obligation.

Step 2

Your adviser will ascertain exactly what your needs are and how we can help you.

Step 3

They will research every product and lender in the marketplace, including specialist lenders who are not not normally accessible by the public.

Step 4

Your adviser will present the most appropriate construction finance solution based upon your needs and their view of the market.

Step 5

If you are happy to proceed, your adviser will gain an agreement in principle from the lender for you. In some cases, this can be gained in a matter of hours.

Your adviser will complete all your application forms and hand hold you through the entire process to answer any questions you have and maximise your chance of success.

Call your FT award winning independent adviser in confidence now on 0800 0112825 or complete the contact form and your dedicated adviser will contact you to see how we can help you.

I want to apply for construction finance for residential development; what’s the difference between this and applying for finance for commercial development?

It’s actually quite a different process. Separate criteria are applied by lenders to the different development types.

There is a set format for residential development which is based around the value of the site, the number of plots, the mix of house sizes, location and finally, the saleability of the site.

With commercial development, lenders are more focused on what the site development is for; whether it is for retail, offices, warehouses or manufacturing complexes, for example. Lenders will also want to know what the demand for that site is in its location.

Your independent adviser will be able to find you exactly the right lender for your proposal, whether it’s for residential or commercial development.

What else will lenders focus on?

Lenders will focus on how they will be able exit, i.e., how they will be repaid, before they even consider lending. They will want to be certain that your project will be able to repay the money that has been borrowed.

Will past construction experience help my application?

Relevant past experience is vitally important. When you apply to mainstream lenders, you must have a very robust track record for the type and size of the project you are applying for funding for.

For example, if you are proposing a residential development, lenders will want to know that you have undertaken a similar residential project before.

What else will lenders consider or want to know?

Once a lender is satisfied with your past experience, they will then consider the loan to value, i.e. the value of the loan compared to the value of the land and development costs. They will need to know what the expected gross value of the development will be once the project is completed.

Timescale is also important when it comes to construction finance; lenders will need to know that the time frame is reasonable and fits the scale of the project, so you will need to have a detailed time frame to present to the lender.

Finally, you will need all the appropriate professionals on board such as an architect, a legal team and an accountant.

If you have any more questions, Worldwide’s independent commercial brokers will be happy to help.

Remember: You won’t pay any fees unless we can help you.

Call your FT award winning independent commercial adviser in confidence now on 0800 0112825 or complete the contact form and your dedicated adviser will contact you.