Rates & Criteria

Our Development Finance rates and criteria are listed below:

Rates and Fees

We charge an arrangement fee between 1%-2%, plus £395 lender admin fee and £35 telegraphic transfer fee. Other fees include solicitor fees, title insurance, valuation and development appraisal which are fees based on your specific loan.

Interest Charges for Development Finance

• Interest rates from 1.45% per month.

• Minimum term is 3 months and maximum term is 12 to 15 months, depending on size of property development.

Interest Charges for Bridging Finance

• Interest rates from 0.95% per month in London up to 1.25% per month elsewhere.

• Minimum term is 3 months and maximum term is 6 months - we can consider longer terms on a case by case basis, up to a maximum term of 12 months.

Maximum Lending

• Max loan £750k in London, £500k elsewhere.  Min loan £150k.
• Larger loans considered on a case by case basis.
• Residential Bridging  - we can lend up to 70% of 90 day valuation or purchase price, whichever is lower.
• Commercial Bridging - we can lend up to 65% of 90 day valuation or purchase price, whichever is lower.
• Development Finance - we can lend up to 50% of 90 day land value or purchase price whichever is lower, and up to 100% of build costs, total lending up to 70% of end 90 day value in London / South East and up to 65% rest of UK. We will lend on a drawdown basis.

Developments

• Up to 4 Detached houses.
• Up to 6 Semi Detached/Terraced houses.
• Up to 12 flats in 1-2 blocks.
• Commercial units/warehouses.
• Shop refits / refurbishments.
• Larger developments considered on a case by case basis.

Will consider on case by case basis

• Second charges.
• Pubs / hotels.
• Flats in Liverpool / Manchester.
• Properties in North Wales, will be subject to location and demand
• HMOs (Note HMOs in excess of 10 rooms will be declined)
• Refer shops with basements.
• Non standard construction, refer property type to underwriting team.
• Flats / apartments in a block of more than 4 storeys.
• Barn conversions.

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