Development Finance Ltd has recently launched a new specialised product – Permitted Development Loans – to fund the conversion of barns and steadings into residential dwellings.
The Permitted Development Act came into effect in April 2015, allowing disused agricultural buildings such as barns, sheds or byres up to 450 sq metres to be converted into a maximum of three units without planning consent.
The aim of the policy is to create more rural housing but being careful not to create lone isolated dwellings. If you have a barn that you think is suitable for conversion if you get in touch with us.
“A valuable member of our professional team. Honest, professional and they get the job done.”
Jamie O’Rourke - O’Rourke Homes Ltd
To qualify the building must satisfy the following criteria:
• Been in agricultural use on 20th March 2013.
• Not within a flood zone.
• Structurally sound.
• Create no more than 450 square metres of residential floor space.
• Capable of conversion to residential use.
• Not contaminated with any oil or diesel spills.
As a privately owned, family run company offering affordable property funding Development Finance Ltd can offer:
• A quick decision on lending
• Flexibility and hands on approach
• Funding on all types of residential developments
• We can recommend trusted build partners and developers
We work with land agents, planning consultants and Architects throughout the UK who can offer advice on your property and confirm if you meet the necessary criteria to proceed with the development under permitted development rights.