Development Finance Bridging Loans
Development finance offers short-term funding to those who need help with the purchasing and/or building costs of a construction project. Development finance is released in set stages on the completion of pre-agreed works or phases.
If you are looking to fund a new build project or purchase and refurbish an existing property; create a single unit or construct an HMO; we can provide different types of development finance to assist your next business venture.
Our advisers have access to the best development finance loans in the market and will be able to guide you through the process, application, and securement of your own bespoke bridging finance.
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Development Finance – we can help with…
FAQ’s on Development Finance
How to get finance for property development
Each development is different, and at Bridging Options we assess each application on an individual basis.
The amount of funding that can be provided will be determined by a professional valuation report that will take into consideration the following factors:
- The value of the site or property in its current state – i.e. before building works or refurbishment;
- the build and conversions costs associated with the project; and
- the expected value of the property once completed.
We will also look at:
- Your previous experience and track record of property development.
- The type of scheme being undertaken.
- The amount of funding required.
- The time it will take to complete the project.
- The location of the development, details of building regulations and restrictions and proof of planning permissions.
Contact Bridging Options today, to see how we can help you finance your next property project.
How does a construction bridge loan work?
A construction bridge loan is a type of short term finance that covers the cost of construction only.
This type of development loan is essential for providing funds for builders, developers or property owners when they need it the most – whether that’s at the beginning, end or part-way through a construction project.
A construction loan is paid either in instalments as the project progresses or in one lump sum, if required to fund a specific part of the build process.
How to get a loan to build a new house
Asking for finance for a new build project can be an intimating task, as you are asking for someone to fund a dream that, as of yet, does not exist.
At Bridging Options, however, we can help you turn those dreams into reality with our choice of development finance.
Depending on whether you want to simply purchase the land, borrow money to pay for the construction process or require capital for the entire project; we can arrange a new build loan to help you fund your custom built abode.
To find out more, contact us and speak to one of our new build specialists for information and advice.
How does a bridge loan work when building a house?
Building your own home or property from the ground up can be an extremely rewarding process, but chances are, that you will need a specialised bridging loan to help with the process.
At Bridging Options, we not only provide some of the best bridging loan rates, but our team of experts can guide and assist you with complex paperwork, projected timeframes, budget setting and exit strategies.
Depending on the down payment agreed, we can supply you with finance to cover your construction costs and even help you pay for the land on which it sits.
Contact us to find out more or for further advice and assistance.
How quickly can I get the funds?
One of the main advantages to taking bridging finance is the speed in which the funds can be released and transferred over.
When you first speak to one of our expert advisers you will need to let them know in advance how quickly your require the funds to be delivered, as this could affect the lenders approached on your behalf. That said, we have seen finance released to clients within as little as 48 hours, although on average it takes two weeks from the initial bridging loan enquiry through to completion.
Remember, opportunity waits for no one, so contact us for a bridge loan today and you could be in possession of additional funding within a matter of weeks.
I need to apply for finance – what are the next steps?
Contact the team at Bridging Options now for your free phone consultation.
Try to have as much of the information we described in step 12 as possible, including any considerations on what your potential assets will be to secure the finance.
Having as much information as possible lets our advisers and brokers work on the best possible finance outcome for you.
Our team will assess your individual needs and introduce you to an experienced bridging expert to match your needs and circumstances.
I am not ready yet but would still like more information
To ensure that you qualify for one of our development bridge loans, it is important to have a solid plan in place when you contact our team at Bridging Options.
To give you an idea of what we might look at when assessing your application, please refer to the question “How to get finance for property development” for a detailed guide. Funds are usually only provided against an agreed build and budget schedule and will be thoroughly monitored throughout.
And remember, the more information you can supply us with, the better the finance outcome for you.
Contact Bridging Options for your free, no obligations consultation today.