Property Development

Principle funders of local projects – Whole of market development specialists

White Rose Finance has been funding development projects for fifteen years.

  • New build single unit to multi-unit schemes
  • Phased Developments
  • Major refurbishments and Permitted Developments
  • Partially Completed Schemes
  • FCA Regulated self-build projects

With knowledge that comes from being a principle funder of local development projects we will bring this expertise to bear on your project by canvassing the whole of the market and obtaining the best cost of finance for your project.

We can lend our own money or discuss your project with over 30 funders, lending money now throughout the UK.

In addition to funding the simpler ground-up single dwellings the practice specialises in more complex cases such as:

  1. Clients with minimal experience.
  2. Developments where part of the site will be kept for personal use and part sold on (or held) for investment.
  3. Modern methods of construction and eco-builds.
  4. Projects where the majority of the client contribution comes from a planning gain
  5. Joint Ventures and investor led developments.
  6. Lending with multiple lenders – senior debt and mezzanine funding.
  7. Funding for sites that have stalled or have encountered cost over-runs.

Taking you from Agreement in Principle to Draw down of Funds

Unlike other brokers, we have a genuine breadth of funders that range from high street banks to challenger banks, specialist lenders, P2P funders and high net worth individuals. We can advise you on structuring your project in the right way to secure finance and provide you with the right forms to show your experience.

In turn, our experienced team will work with you to make sure the absolute strongest possible presentation gets put to the lenders to increase your chance of success, and if needs be, accompany you to the lender meetings that can often prove crucial to ensuring your project is funded.

Unlike other brokers we don’t leave you at that point but work with you throughout the lending and legal due diligence to make sure that any deadline for starting work gets met. Each project has its own pitfalls but we understand where the pressure points are with each lender and how to speed the process and minimise the stresses that these applications can cause.

FAQs

Property Development Finance - Who can borrow?

We provide Property Development Finance for experienced Builders and Property Developers and to those undertaking their first project with the contracted support of a recognised and registered builder. It will be necessary for all applicants to provide personal and business profiles and we will assist you with these as necessary. For an immediate discussion on your requirements and the funding options available please call us today 0333 405 1954 or submit an online application. or request that we call you back.

Property Development Finance - How much can you borrow?

We provide Property Development Loans from £50 K up to £50 Million. In general terms we can provide Senior Debt finance to cover up to 60% of the site acquisition costs ( or current value if the site is already owned ) and up to 100% of the development costs which is drawn down at pre-agreed project stages. As a general principle, the level of funding available will increase the greater the profitability of the project.

We also provide top up or so called ‘Mezzanine’ finance which allows additional funding to be advanced in addition to the ‘Senior Debt’ up to a maximum of 90% of the total project costs. For clients who can offer additional property as security we can often make up any shortfall of funds and we will be happy to discuss the broad range of alternative funding options available.

Property Development Finance -What other costs are involved?

In all cases it is necessary for the project Gross Developed Value (GDV) and all development / construction costs to be independently assessed and verified prior to the loan facility being formally approved. Such valuations and professional services are at the expense of the borrower as are legal expenses.

Property Development Finance - What interest rate and fees will you pay?

This generally depends on the amount you wish to borrow but rates currently start from 7 % per annum and will generally be geared to the overall loan to GDV requirement. We offer loans from our own syndicated fund and also work with 30 other active lenders in the UK market. Our charter and commitment is to secure you the most competitive finance package for your development project. Facility set fees are generally incidental to the overall project cost and we agree these at commencement of the project. Time and again the actual savings we achieve for our clients cover the project fees many times over.

How do I move forward to secure a formal offer of property development finance?

As a starting point we need to get the basic information about you, your background and of course to the Development or Refurbishment project being undertaken. You can provide this to us either by completing our on-line enquiry or by calling our office as below and speaking to a member of our team. Our advice is free, impartial and entirely without obligation so please don’t hesitate to get in touch.

Let us help you

If you need any further information on development finance please do not hesitate to make contact with us to discuss your project in depth.

Initial consultation is free of charge, we are happy to act as a second pair of eyes to offers already tabled and feel sure that if you work with us once, this will build into a long-standing relationship.

Call 0333 405 1954, submit an online application. or request a call back. We look forward to working with you to successfully complete your project.