Consulting experts in development finance is often the most beneficial advantage developers can leverage when looking to fund their next project. Another advantage that should be utilised is seeking the assistance of the right loan broker or financing organization to help ensure they are getting the best possible lending deal.
Financing organisations, such as Jubilee, can help developers seek out, research and secure the funding they need to complete a large range of different projects including renovations, commercial and residential projects, new building projects, or conversions.
How We Fund Property Development Projects
Jubilee has developed many relationships with different reputable lenders and is able to 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 who are looking to fund various projects.
Some of the standout features of our financing process include quickly released funding, financing available within and throughout the United Kingdom, and a minimum funding amount of £50K with no maximum amount. 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 financing a project. In addition to funding assistance, Jubilee 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 minimize its risks before presenting it to lenders. A low loan-to-value, or LTV, is very important for new developers when they are making an initial financing request. Low LTVs are very attractive to lenders and help show that the project is low risk, making them more likely to extend financing.
In addition to the assistance provided by Jubilee, it is also a good practice for new developers to seek assistance from other industry professionals to help work out the details of their project. Consider soliciting the services of a knowledgeable project manager, qualified surveyor, or architect to help validate the development project.
It is also beneficial to seek out a contractor who is willing to do the work required to complete the project for one set price – this will help new developers avoid any unforeseen or unnecessary expenses, which is also 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 also has the capability to work with developers who are having credit problems and will consider applications from those 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 from £50,000 to £250,000, traditional terms of up to nine months, and funds that are released quickly in as little as 14 days.
In many respects, lending for developers with adverse credit works much the same way as normal lending when dealing with Jubilee. 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 plots of land. 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 problems, please feel free to reach out to our team of knowledgeable experts for assistance.
What You Need to Apply for Property Development Finance
When you are ready to apply for financing to fund a project, there is some key information that will need to be available 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, costs and timeline of the project, planning documents, amount of financing needed, account information Assets 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 some additional documents and information so that the Jubilee representatives can find the best possible deal.
This additional information includes the purchase price or the current value of the owned property, a breakdown of all costs and a timeline of the work to be done, the expected end value of the project, planning permission documents, building regulations, and details associated with planning restrictions or Section 106 if applicable.
This information will help our team properly assess and understand your project, which will help them to make more educated decisions when it comes to approaching lenders and securing financing.
Starting a new development project is stressful for developers. Making sure that project plans are on point, all permissions are given, no regulations or laws are broken, and gathering the right team of builders and permits is stressful enough, but when this is added to financing a project, it can be completely overwhelming.
Jubilee understands this stress and has worked to build relationships with lenders who are willing to work with our developer clients. When a project is planned, specified and priced out properly, it is much easier for lenders to say yes to funding these projects. Jubilee can help developers present their projects in the best possible light and help to secure the funding they need and want with great deals that are a perfect match for each unique project’s needs.
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Remortgaging involves switching to a new mortgage deal, often with better terms, allowing homeowners to consolidate existing debts into a single, manageable monthly payment. This method can significantly improve financial stability. More information can be found on the Remortgages for Debt Consolidation Purposes page.
Understanding Equity Release Schemes and Their Suitability for Homeowners
Equity release schemes enable homeowners to unlock the value of their property without having to sell it, providing a lump sum or regular income. This can be a valuable option for managing debt, especially for those over 55. Detailed insights are available on the Equity Release Schemes page.
Bridging Finance Solutions for Covering Short-Term Financial Needs
Bridging finance provides short-term funding solutions to cover gaps between transactions, such as buying a new property before selling the current one. Nationwide’s options for this can be explored on the Bridging Loan Nationwide page.
Secured Loans: Leveraging Home Equity for Lower Interest Rates and Larger Loan Amounts
Secured loans use the homeowner’s property as collateral, offering access to larger loan amounts and lower interest rates. This method can effectively consolidate debt and improve financial health. More details are provided on the Secured Loans page.
Lifetime Mortgages: A Long-Term Solution for Senior Homeowners to Access Home Equity
Lifetime mortgages allow senior homeowners to borrow against the value of their homes, providing funds without needing to move. This can ensure financial stability in retirement. Visit the Lifetime Mortgages page for more information.
Understanding the Benefits and Risks of Equity Release Schemes for Homeowners
It’s important to weigh the benefits and risks of equity release schemes before making a decision. Detailed analysis can be found on the Are They Safe? page.
Drawdown Lifetime Mortgages: Flexible Options for Accessing Home Equity
Drawdown lifetime mortgages offer homeowners the flexibility to withdraw funds as needed rather than in a lump sum, providing control over their finances. Learn more on the Drawdown Lifetime Mortgages page.
Exploring Retirement Mortgages and Pensioner Mortgages for Older Homeowners
Retirement mortgages and pensioner mortgages are tailored for older homeowners to help them access home equity to cover living expenses or pay off debts. Detailed information can be found on the Retirement Mortgages and Mortgages for Over 65s pages.
RIO Mortgages: Maintaining Financial Flexibility in Retirement
Retirement Interest Only (RIO) mortgages allow retirees to release equity while only paying the interest on the loan, maintaining financial flexibility. Explore this option on the Best RIO Mortgage Rates page.
Halifax Equity Release: Unlocking Home Equity for Financial Needs
Halifax offers equity release solutions to help homeowners unlock the value in their homes, providing funds for various financial needs. More details are available on the Halifax Equity Release page.
Equity Release Schemes: Tailored for Homeowners with Bad Credit
Homeowners with bad credit can still benefit from equity release schemes, which offer a way to access funds despite financial challenges. Visit the For Bad Credit page for more information.
Examples of Equity Release Schemes Helping Homeowners
Real-life examples show how equity release schemes can be tailored to meet specific needs, providing financial relief and stability. Case studies are available on the Equity Release Schemes Examples page.
HSBC Bridging Loans: Quick Financial Solutions for Homeowners
HSBC offers bridging loans to provide homeowners with quick access to funds for various needs, including property transactions and short-term financial gaps. Learn more on the HSBC Bridging Loans page.
Santander Bridging Loans: Short-Term Finance for Homeowners
Santander provides bridging loans that offer homeowners short-term finance solutions to manage cash flow gaps. More details are available on the Santander Bridging Loans page.
Options for Homeowners £10,000, £25,000, or £50,000 in Debt
Homeowners dealing with significant debt, whether it’s £10,000 Loan, £25,000 Loan, or £50,000 Loan, can consider various options to leverage their home equity for financial relief, including remortgaging, secured loans, and equity release schemes.
Secured Loans for Homeowners with Bad Credit
For homeowners with poor credit, secured loans can provide a viable option to consolidate debt and access funds at lower interest rates by using their property as collateral. More information is available on the Bad Credit page.
Debt Consolidation Loans: Evaluating Benefits and Impact
Debt consolidation loans combine multiple debts into a single loan with a lower interest rate, making it easier to manage finances. Insights on this can be found on the Benefits of Debt Consolidation page.
Finding the Right Cosigner for Your Debt Consolidation Loan
Having a good credit cosigner can improve your chances of securing a debt consolidation loan with favorable terms. This strategy is particularly helpful for those with bad credit. More details are available on the Finding the Right Cosigner page.
Paying Off Credit Card Debt by Leveraging Home Equity
Homeowners can use the equity in their homes to pay off high-interest credit card debt, consolidating their debts into a lower-interest mortgage or secured loan. This approach can significantly reduce monthly payments and overall interest costs. Visit the Paying Off Credit Card Debt section for more advice.