Development Finance - Cheaper Than You Think

In this video we discuss development finance loans and how they chould be cheaper than you think!
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#developmentfinance #property #realestate
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1st charge, 2nd charge and even 3rd charge
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Residential, BTL, HMO, Commercial, Development & Unsecured Business Loans.
PROMISE MONEY 01902 585020
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Representative example
66% of our clients get these rates or less - (This is not a specific example of this product above)
£63,000 over 228 months at an APRC OF 6.1% and an annual interest rate of 5.39% (Fixed for five years - variable thereafter) would be £463.09 per month, total charge for credit is £42,584.52 which includes a £2,690 broker / processing fee. Total repayable £105,584.52.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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[@stevehodge6201]

Interesting video. Appreciate your time. I'm actually a director of a building company, well established and very busy. However, developments seem a natural progression for me. We are on the bank end of covid recovery so outside of experience and a few vehicle assets we wouldn't have much cash to put in. With the right deal would a lender consider 100% finance? I would likely be able to get investors that I have worked for previously it would be like working for a customer so not ideal.

[@stevehodge6201]

To add. I get offered lots of off market development opportunities, most with planning granted, have the team and the know how including architects, engineers, building Inspectors and good relationships with local agents. With good finance I suspect we could do really well.

[@damiijay4870]

Thank you for the video. What do you mean when you say plus base?
The example with 60% you gave are you expected to find the 40% deposit

[@PromiseMoney1]

Base rate is the bank of England rate - currently 4.5% - expected to go up tomorrow

[@damiijay4870]

Thank you for the video. What do you mean when you say plus base?
The example with 60% you gave are you expected to find the 40% deposit

[@PromiseMoney1]

Sorry, I thought I’d replied to this one. Plus base is plus the current bank base rate which is at 5%. And I think you have got an understanding of how the LTV works.