DEVELOPMENT FINANCE

A common-sense approach to development finance

Capital is the key ingredient for every successful development, whether it’s a new build, part-build or conversion. You need an experienced and reliable finance lender with a common-sense approach who can work alongside you and who can access funds quickly. At Black & White we can strengthen your position by arranging short-term finance on competitive terms and will work side by side with you throughout the period of the loan, ensuring that you only pay for the capital you use.

Key rates & features:

MAXIMUM LOAN

£10,000,000

MINIMUM LOAN

£150,000

MAXIMUM LTV ON COMPLETION

65%

MAXIMUM LTGDV

65%

BUILD COSTS FUNDED

up to 100%

ARRANGEMENT FEE

2%

BROKER COMMISSION

1%

MONTHLY INTEREST

from 0.89%

INTEREST PAYMENT METHOD

Serviced, retained or rolled

EXIT FEE
Negotiable
MINIMUM TERM
3 Months
MAXIMUM TERM
24 Months
STAGE RELEASES
Monitoring surveyor
STAGE RELEASE FEE
£225 per drawdown

Key Product Criteria*

PROPERTY

Land to be developed to residential or semi-commercial – full planning required before completion

TENURE

Freehold

TYPE OF CHARGE

First charge

BUILDING CONTROL & WARRANTY

Stage releases are tied in with statutory and warranty inspections

WORKS

Large refurbishment and conversions, demolition and ground-up developments, part-built developments.
Pre-commencements of works conditions must be discharged before completion

EXPERIENCE

Each deal is considered on their own individual merits

 

* Please refer to the criteria page for standard loan criteria for all products

Case Study

Development, Reading

Our client required a loan to demolish a two-storey detached house and garage and to fund the development of three units. They also applied for enhanced planning, post-completion, to split one of the larger units into two semis.

We were happy to complete the loan on the current planning permission, with the understanding that a revised planning application would be made post-completion. We detailed all necessary requirements for enhanced planning in our offer letter, creating a clear path for the client to follow if enhanced planning was granted.

Loan: £1,529,200
Value: £2,450,000
GDV: 63%
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