What is regulated Development finance?
Regulated development finance is usually taken to build property which is intended to be used as a main residence of the borrower. Development finance will become regulated if 40 percent or more of the property to be built is used or linked with a main residence dwelling.
Regulated development finance applications are generally used when a plot of land is being bought to construct a new residence for the borrower, or whenever planning was allowed for a home to be constructed in the backyard of the customer’s present house.
Below are the key criteria points for regulated development finance:
- 1. Loans starting from £50,000
- 2. Access to whole of market to obtain leading rates
- 3. No experience required
- 4. Terms of up to 24 months
- 5. Exit route must be realistic
- 6. Adverse credit maybe considered
- 7. Borrow up to 100% of the build cost
- 8. Interest can be rolled up- No monthly payments during the term
How much will it cost?
Regulated development finance rates will depend on the strength of the application
In certain instances, we may be able to fund your development via a self-build mortgage, which will work out considerably cheaper.
Our advisers can assist you in obtaining the best rates possible and can usually provide full terms within 2 hours.
How much can you borrow?
We can provide regulated development financing starting from £50,000 without a maximum loan limit.
The maximum loan is going to be determined by several factors such as the value of the project site at the onset of the construction and the final value on completion. The final value is also known as Gross Development Value (GDV).
How Finbud Can help you
From the very first point of contact, through to conclusion, we will handle the entire process for you. As a result, you can be reassured that we will negotiate with many lenders to ensure terms meet your requirements as well as obtaining the very best rates for you.
Get in touch on 0207 788 6627