2nd Floor, 29 Crouch St, Colchester CO3 3EN

Property Development Finance

Michael Commercial Finance arrange Property Development Finance for a variety of customers, from experienced Builders and Property Developers undertaking another project to those undertaking their first project and funding is available for the following developments -

• Residential new build projects.
• All property types including flats, apartments, semi's and detached.
• Residential refurbishment and major conversion projects.
• Short Term Loans for minor property refurbishments and 'makeovers'.
• Bridging Finance For Auction Purchase
• Commercial, Industrial, Office and mixed-use developments

How much can you borrow?

With loans starting from £50,000 up to a limit of £50 Million, we can arrange and facilitate finance to cover up to 60% of the site acquisition costs (or current value if already owned) and potentially up to 100% of the development costs.

These will be drawn down at specific stages of the development process, but we also provide top up/'Mezzanine' finance on projects to facilitate additional funding to a maximum of 90% of the total project costs to assist with your needs.

Given the broad spectrum of products available to us via our lending partners, in instances where clients can provide additional property as security, we can often make up any shortfalls and we will be more than happy to discuss these with you as an alternative funding option if appropriate.

What other costs are involved with Development Finance?

It is always advisable and prudent to get your project’s Gross Developed Value (GDV) and all development (including construction) costs independently assessed and verified prior to drawing the funds to avoid any shortfalls. As with any legal work, this cost would be at the expense of the borrower.

What interest rate and fees will you pay?

The rate of interest and fees payable will vary from project to project as several factors contribute to the over cost (loan amount, term, development type etc) but our commitment to you is to secure you the most competitive & comprehensive finance package for your development project and any facility setup fees are generally nominal in relations to the overall project cost and we agree these at the outset for the sake of clarity.

What do I need to do to start the process of obtaining a formal offer finance?

As part of our initial discussion and assessment, we would need to get the basic information about you, your background and the project being undertaken. Once we have a solid understanding of your development requirements and personal circumstance, we will be able to piece together your financial solution.

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2nd Floor, 29 Crouch St, Colchester CO3 3EN

Legal Info

Registered Office:
Michaels Commercial Finance
2nd Floor, 29 Crouch St, Colchester CO3 3EN.

Michaels Commercial is a trading style of Michaels Commercial Ltd FRN: 803907 who are Credit Brokers and are Appointed Representatives of White Rose Finance Group Ltd (FRN: 630772) Authorised and Regulated by the Financial Conduct Authority.