Are you and your developer clients missing out?
There are a number of lenders who feel the time is right to start lending again and although many have restricted their level of funding some private funder's have entered the market to 'fill the gap' by offering top-up finance or higher LTV products.
1). As you are no doubt aware the High Street Lenders, despite claims to the contrary, are not really back in the market and where they are lending it is mainly to major developers with low loan to values.
2). Other lenders are limiting their loans to 50% - 55% of GDV
3). Happily some Specialist Lenders are lending at higher levels with some lending up to 65% of the GDV making previously difficult to fund projects, fundable.
For those of you who have a cracking scheme in a good location but even with your existing lender helping out you just can't raise all the capital you need to get it going then we may have the solution.
We have lenders who will 'top-up' your existing lenders financing with Mezzanine funding. Clearly the risk to these lenders is much higher so it is more expensive than traditional finance but it is perfect if you have a scheme with the right blend of risk and reward.
If you own a site outright then you can secure 100% of all the build costs associated with the development of the units at current standard interest rates. Also if you have a project where there is a pre-sale to say a Housing Association then we have lenders whom will fund up to
Exclusive Connections to Private Lenders and Private Equity Funds from People who understand your Business.
Most of our lenders don't fund anything other than property development and so they understand your needs. Just as important your lender contact will either be a Director of the company or sat on the credit committee that approves your loan facility so you will have access to a decision maker.