New build? Conversion? Renovation? Part-build? Property development finance is funding for either major new building projects or comprehensive renovations. We can source finance for residential, commercial and mixed-use developments. We’ve helped experienced and new property developers find the finance they need to start and finish their projects.
The lending criteria is quite broad but some pointers to consider:
With access to the whole of market and a panel of specialist property development lenders and other institutions we can find the right match and negotiate the best rate for each proposition.
Mezzanine finance is one of the more complex types of funding. Whether you need property development finance quickly or there is a shortfall in funding provided by a traditional lender, mezzanine finance may be a viable option. Mezzanine finance sits behind the prime lender and acts as a second charge for the development. The majority of mezzanine loan lenders are prepared to provide up to 20% of the gross development value.
Benefits of mezzanne finance:
In the event that mezzanine finance is required, it is advisable to contact a specialist property finance broker to ensure that the mezzanine loan is appropriate, with fair terms and at the best available rates. At Primus Finance we ensure whether this is the best option with the highest likelihood of acceptance by the lender.
With access to niche off-market funds, Primus Finance works with experiened developers through enabling equity financing. This form of funding reduces the equity burden from the developer enabling the developer to focus on delivery and achieve a higher ROI.
This is achieved through providing upto 90% of the required funding after senior debt. Through our relationships we can layer the equity and debt component to achieve the highest ROI for the developer.
Joint ventures are a popular option for property developers to fund their projects, as they could invest a small amount of their own capital to potentially access a large amount of development finance within a short time period. By unlocking profits in your development project you can secure 100% funding from site purchase, through to build completion including all project management costs.
At Primus Finance we take a commercially driven approach to projects, criteria’s should be seen as more of a guidance than a rule.