Frequently asked questions

How much money can I borrow?
Our minimum Development Loan is £50,000 and our maximum is £500,000, although higher limits may be considered on an individual basis.

Do you charge a percentage of the GDV as an exit?
Unlike other lenders, we charge an exit fee based on the amount of the development loan, not on the value of the completed development.  This will save you thousands of pounds in fees.

What type of property will you accept as security for Development Finance?
We offer Development Loans on all types of land for residential and commercial developments as well as refurbishment and renovation loans.

Do you lend to limited companies as well as to individuals?
Yes, we can use your business property or personal property as security for your development loan.

Is there a charge for making a Development Finance application?
No, we will give you a free, no obligation quote.

What costs are involved in the transaction?
A Development loan creation fee will be payable upon initial draw – down of the funds.

How soon can I have the money?
We aim to provide you with the Development finance within a few days, subject to you obtaining a satisfactory valuation.

Can I make capital repayments or settle the development loan early?
Yes, you may pay off your Development loan at any time, or you can reduce the outstanding balance by making contributions towards the capital during the loan term.

What if I have CCJ’s or a poor credit history?
No problem – you merely need to provide us with adequate security and a viable exit route.

Am I eligible if I am self employed and do not have a set of accounts?
Yes, you may self-certify the Development loan application

Do I need a solicitor?
Although our solicitors will take care of our legalities and loan documentation, we ask borrowers to seek solicitors’ independent legal advice prior to completion.

Are you a genuine lender?
Yes, we are a genuine lender – we are NOT brokers. Apply to us direct and pay no brokers fees.

Tel: 0141 332 8884 | Fax: 0141 333 0733
Email: info@developmentfinanceltd.co.uk

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1st floor (right),65 Bath Street, Glasgow, G2 2BX, Scotland.

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