Property development and refurbishment
An example of fast development finance recently completed.
A full development loan completed in 17 days of £7,445,000
Development Finance remains available for both residential and commercial development projects within the UK. Funding can be arranged for smaller conversion or refurbishment projects through to large scale new build housing or mixed use developments.
Pioneer has a wealth of knowledge, experience and contacts within the real estate development sector and bespoke finance packages are tailored to meet the underlying cashflow requirements of each individual project. Finance is available for up to 90% of total project costs and 70% of end values (GDV) dependent upon the characteristics of each project.
Funding is generally structured on an interest only basis, with interest either covered monthly or rolled up within the aggregate loan facility, with funds drawn down in stages as the development progresses.
Pioneer has access to both the senior debt lenders and mezzanine debt providers that are active within the UK development finance arena. If you have a development project that requires funding, please do give us a call as we will be pleased to discuss what is achievable in the current market.
Pioneer has access to both mezzanine debt providers and equity providers allowing the developer to put in the minimum amount of funds to schemes.
If you have a development project that requires funding, please do give us a call as we will be pleased to discuss what is achievable in the current market.
Lending criteria
Borrower:
- Experienced House Builders
- Demonstrable track record of building and selling similar developments.
Security:
- Quality residential development schemes
Financial parameters:
- Projects will generally have a Gross Development Value of between £1,000,000 to £100,000,000
- Mezzanine or Senior Funding
- All loans are secured by property/site to a maximum 70% GDV
