Can I get a loan for my personal property development?
Development finance is a mortgage or loan designed to help you fund the building of a property that you intend to sell or rent out once it’s complete. You might have a portion of your back garden you can section off for a new-build, or perhaps you have inherited an older property that you wish to knock down to make space for new homes or apartments. John Charcol is an expert in helping clients to arrange development finance for projects with planning permission throughout the UK.
Property development finance brokers
Raising finance for a property development can be tricky, but John Charcol has decades of experience in the UK mortgage market to overcome these difficulties. Our property development finance brokers and can arrange finance for all kinds of clients and circumstances.
Why is development finance difficult to arrange?
Development finance is a specialist area of the lending market because it is riskier for lenders than a standard mortgage. Rather than lending on an existing home that can be assessed and valued, you are asking a lender to loan money based on your plans, and your personal commitment, experience and tenacity to see your project through to completion.
How can John Charcol help with development finance?
As mortgage experts with years of experience in development finance, we have personal links direct with development finance specialists.
As long as you have planning permission and personal funding of around 30% to 40% of the overall project budget, we can help to organise development finance for a wide range of projects including:
- Converting a single dwelling on land you own to a block of flats or apartments
- Finance at various development stages, from ground up to foundations, footings, water tight and fittings
- Knock-down projects where you are demolishing an old existing property to develop a new build
To find out how we can help with your development finance, call us on 0344 346 3672 or enquire now.
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Frequently asked questions
Can I get development finance without planning permission?
No. You must have planning permission first
Can I borrow 100% of the build costs?
No. Typically you will need to fund at least 30% to 40% of the development costs yourself
Is it easier to get development finance on certain projects?
Yes. Lenders will favour people with experience, but that doesn’t mean we can’t help if this is your first time.
Do I need to own the land first?
No. We can help you purchase the land, as well as provide finance for the build.
Is there a set time limit?
Yes, between 12-18 months for residential building projects. Longer terms than 18 months become commercial mortgages, which is a separate product.
Why John Charcol?
- Independent We know where to find the best deals for people like you.
- Experienced We’ve been arranging London City mortgages for over 20 years.
- Personal We’ll come to you and take as much pain out of the process as humanly possible.
- Expert Many of our clients don’t qualify for a standard mortgage. That’s where our expertise comes in.
- Flexible We're used to working with high net worth individuals who want flexible mortgages that give them best value.
- Fast We work quickly to make things happen in the timeframes you need.
- Accessible We’re real people available on the end of the phone or in person, as and when you need us.