Residential Development Finance

How will your independent commercial finance advisers help me to obtain residential development finance?

Using one of Worldwide’s independent commercial finance advisers can help you in many ways. Our double FT award winning advisers and their unrivalled experience are at your service from the moment you contact us.

Our service is very straight forward:

You will be assigned your own expert in residential development finance, who will contact you to discuss all your requirements and circumstances.

As soon as your adviser has a clear picture of your residential development finance needs, they will seek out and research the best lenders and the best form of residential development finance for you.

Because all Worldwide’s advisers are totally independent, your residential development finance adviser has access to the entire marketplace. That means they can approach every single lender there is – even niche and specialist lenders who are not normally available to the public.

Your adviser will also negotiate the rate and your fees with the lenders to the lowest possible price. Once your adviser has found a potential residential development finance solution, they will return to you with it. If you are happy to proceed, your adviser will gain an agreement in principle from the lender within 48 hours.

From that point on, they will guide you through the application process and beyond, all the way to the funds arriving in your account. You will always retain the same residential development finance adviser.

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

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

What will I need to have in place before I apply for residential development finance?

It is vitally important to have planning permission in place before you start. Previous residential development experience can also be important to negotiate the best terms with a bank.

Lenders assess each project on its own merits taking various factors into account, but previous experience is one of the most important.

When you apply for residential development finance, many lenders will insist that you have extensive proven experience in property development projects. At the very least they expect you to have an experienced building contractor on board and other relevant professionals i.e. architect, accountant and solicitor.

When applying for residential development finance you will also need to produce a detailed plan for the project, including the costs of the development and what will happen when the development has been completed. This is important because the lender will need to know how they will be repaid.

How much residential development finance will I be able to borrow?

How much residential finance you can borrow will depend on your project and how we choose to package it depending on your circumstances. For instance by using other security we could achieve 100% loan to value.

Typically a lender will lend 50% of the value of the land and 50% of the cost of development, which is subject to an overall limit based on the expected value of the site after development but we will approach every lender in any event so as to achieve the maximum.

The amount you can borrow will depend to a great extent on the lender’s view as to how easily they will have the loan repaid from the project.

Your adviser will be able to give you clear guidance on how much you will be able to borrow, based on your circumstances.

Will I be able to borrow all the residential development finance I need in one go or will it be lent in stages?

It will depend on the project, your experience in the field and the amount being borrowed in relation to the overall value of the project. Usually the lender would expect to see you, the developer put in your money first before they release funds. There are two reasons for this:

• It is proof of your commitment to the project

• It is less risky for the lender

Your independent commercial finance adviser can help broker a deal with your lender, including negotiating on this issue.

Is it possible to borrow 100% of the residential development finance I need?

Depending on your project and circumstances, it may be possible to borrow 100% of the residential development finance required. If you are short of cash but do have spare assets to use as security, then you may be able to borrow 100% of the cost of the development.

The deal, however, would still have to be to the lender’s satisfaction, i.e. the value of the finished site would have to cover the cost of the development and leave a good profit margin for them to agree to 100% of the residential development finance.

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

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