Residential Development Finance

[ScottNicol]

Hi Guys, im run a company in the house building game, i already know of some companies and banks who do this type of finance and what they offer, but im just looking to see if anyone knows of any other orginisations that offer this type of finance.

If you know any post the details here.

Much Apprecaited In Advance

Scott

[PinkPanther]

Getting into the property renovation and investment business myself, I came across these in my research. Though, I'm hoping a good IFA would be able to source the best mortgage to fit my circumstances.

www.abbotsfinance.co.uk/
www.buildstore.co.uk/finance/
www.propertyfinancespecialist.co.uk/

Haven't a clue what they're like though!

Edited by PinkPanther on Wednesday 16th August 11:50

[vex]

Slightly OT, but you both need to talk to either me or plotloss about enhancing your properties with cost effective technology.

We both offer Home Networking, Mood Lighting and Multi-Room music systems to suit most budgets.

We are are a wholesaler and plotloss is an installer.

(sorry for the high jack - but anything to get business)

Chris

[ScottNicol]

Cheers buddy i will have a look at them, i am aware of Buildstore , they will be very good for you if you are starting out, really helpful and willing to help.

Anymore folks ?

[johnfm]

Scott

Have you got a good track record with a bank already? I am currently doing two developments, both funded by the same bank that financne my personal house - which itself wsa a £150k refurb. I have had a relationship with this bank now for 5 years or so.

My relationship with the bank has enabled me to get them to fully finance my next refurb without having to find any cash (in reality, as they have an interest in my house & equity I am putting cash in in theory - without havin to sell & release physical cash).

At the end of the day, relationships with men who give out the money are priceless.

Both Yorkshire Bank and Bank of Scotland up in Leeds are very very keen to lend money to developers at the moment.

Good luck

[WWESTY]

Mortgages?


Secured Loans?


Drop us a line folks - we're very helpful and friendly !!

[ScottNicol]

John,

We are building the likes of 20-30 houses a time at the moment, we are on our 3rd development of this size and we have used Build store for these developments, we have never used our bank for any developments, im hoping to break the barrier with them in the next 6 months or so. Im just looking for various options at the moment , ideally in a few years time i want to have a great relationship with the bank and be using them for everything.

Btw we are a Scottish based development company.

Thanks guys

[MichaelM74]

Hi Guys
We are Commercial Mortgage brokers who work in the development finance field, have a look at our site if your interested. www.developmentfinancebank.co.uk

regards Michael

[ScottNicol]

Interesting site Michael, will have a good read later.

Thanks

Scott

[andy_s]

PH? Don't you just love it...

I was talking things over with my better half last week and we seriously need to look to the future. As part of this an option we talked about was property development with an end use of holiday rental; i.e. buy a plot of land, build property, rent property to the holiday market. The aim is to have a small trickle of cash for the medium term while any loan is paid off and then either sell the property in ten (example) years to reap equity or to continue to rent while unburdened by loan so increasing income to regular 'salary' levels.
There's a bit more to it than this in the concept but that's the financial model.
So....now, how is it best to treat this? Set up a LLC, do it as individuals, bring in professionals?
What are the available/best roads to go down financially - business loan, business mortgage, developement mortgage, buy-to-let mortgage....I am (it's only been a week this idea has been cooking) ignorant as far as how best to finance the project. (We could rustle up either equity security or small deposit)
If the initial idea and model work we would look to increase the units in UK and possibly abroad, but that's a big 'if', and dedicate ourselves to it as a larger business.

I know it's a bit of a hijack (I'll repost if you'd like) but I'm at the crossroads and am rustling about in my bag looking for a torch. If you see what I mean....