Consulting development finance experts is often the most valuable advantage developers can leverage when looking to fund their next project. Another advantage is seeking the assistance of the right loan broker or financing organisation to ensure they secure the best possible lending deal.
Financing organisations, such as Jubilee, can help developers identify, research, and secure the funding they need to complete a wide range of projects, including renovations, commercial and residential projects, new buildings, and conversions.
How We Fund Property Development Projects
Jubilee has established relationships with reputable lenders and can secure exclusive financing deals for clients based on their unique needs. Having these relationships makes the financing process less stressful and easier to navigate for borrowers and developers seeking to fund various projects.
Some of the standout features of our financing process include quick funding, financing available throughout the United Kingdom, and a minimum funding amount of £50K with no maximum. In addition to these great benefits, our lender partners also offer additional borrowing opportunities throughout the project and competitive pricing.
Funding is Available for New Developers
When new developers enter the industry, they sometimes need additional assistance with project financing. In addition to funding assistance, Jubilee 2000 can help plan and shape a project’s details to make the package look attractive to possible lenders.
Our knowledgeable team of experts can increase a project’s profitability and help minimise its risks before it is presented to lenders. A low loan-to-value (LTV) ratio is very important for new developers when making an initial financing request. Low LTVs are very attractive to lenders and signal that the project is low risk, making lenders more likely to extend financing.
In addition to assistance from Jubilee, it is also a good practice for new developers to seek help from other industry professionals to work out the details of their project. Consider engaging a knowledgeable project manager, qualified surveyor, or architect to help validate the development project.
It is also beneficial to seek out a contractor willing to complete the required work for a single set price; this helps new developers avoid unforeseen or unnecessary expenses, which is very attractive to potential lenders. Having all of these components in place will help a new developer to secure the funding they need at a good price.
Funding is Also Available for Developers with Bad Credit
Jubilee can also work with developers who have credit problems and will consider applications from individuals with discharged bankruptcy, CCJs, and missed payments. Financing in this situation will cover projects that include renovations, conversions and new builds, and financing can be arranged for up to 40 or 50 per cent of the project’s final end value, as well as 100 per cent of the project’s build costs when the loan is less than 50 per cent of the Gross Development Value or GDV. Some additional key features of this type of financing include loans of £50,000 to £250,000, traditional terms of up to 9 months, and funds released within 14 days.
In many respects, lending to developers with adverse credit works much the same way as normal lending with Jubilee 2000. An important difference, however, is that developers with credit problems who apply for financing will be held to the first-charge lending process only.
Additional lending options are available, including funding for land plots. This type of financing is available as long as the loan stays within the standard 50 per cent of the Gross Development Value. If you would like more information about how Jubilee can handle development finance for those with credit issues, please feel free to contact our knowledgeable team.
What You Need to Apply for Property Development Finance
When you are ready to apply for financing for a project, some key information will be needed during the initial consultation. To help make the application and approval process as seamless and painless as possible, we ask that you provide a track record and background as a developer, the project’s costs and timeline, planning documents, the amount of financing needed, account information, Asset and Liability statements, and building regulation documents.
Additionally, personal identification information should also be readily available. This information will help our team of lenders decide which financing deals are available for your unique project.
If you are a new developer, you will need to provide additional documents and information to help Jubilee representatives secure the best possible deal.
This additional information includes the purchase price or current value of the property, a breakdown of all costs, a timeline for the work to be done, the expected end value of the project, planning permission documents, building regulations, and details on planning restrictions or Section 106, if applicable.
This information will help our team properly assess and understand your project, enabling them to make more informed decisions when approaching lenders and securing financing.
Starting a new development project is stressful for developers. Making sure project plans are on point, all permissions are in place, and no regulations or laws are broken, and gathering the right team of builders and securing permits, is stressful enough, but when this is added to financing a project, it can be completely overwhelming.
Jubilee 2000 understands this stress and has worked to build relationships with lenders who are willing to work with our developer clients. When a project is properly planned, specified, and priced out, it is much easier for lenders to approve funding. Jubilee 2000 can help developers present their projects in the best possible light and secure the funding they need and want, with great deals that perfectly match each project’s unique needs.