Infographic: Development LoansPublished on 1st October 2015 2015-10-01T10:47:55+00:00 - Last update on 11th April 2020 2020-04-11T20:54:04+00:00
- Development loans are issued to cover the costs of developing or renovating a property.
- The loan provider will advance a certain percentage of the Gross Development Value of a property – a rough calculation of how much the property will be worth once development has finished.
- The only essential requirements for obtaining a development loan are a knowledge of the development process, the necessary planning permissions, and an exit strategy for when the work is finished – selling or refinancing, for example.
- Unlike other forms of property finance like commercial mortgages, development loans are short-term, typically lasting up to twelve months.
Rangewell has extensive knowledge of the SME financing field. We’ve independently mapped the business finance market of thousands of loan products from over 200 business lenders, so we can offer SMEs and professional advisors access to multiple sources of development loans, as well as a wide range of other funding options, including bridging and development exit finance. If you need business finance, Rangewell can connect you with the best sources. Click the button below to find out more.
Share this article
Discover your range of finance. Every type of finance for every type of business.
Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.Find Funding