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  • Mortgages & Finance

    Development Lenders / Auction finance

    Hi
    I’m new to property development, in this country at least, and wondered if there were some recommendations for solid finance lenders. I have a pot of cash, so don’t need major finance to start with, but have no trading history of course. My other work is freelance marketing, and although I’ve just finished a 3-month contract, don’t have a regular income. so recommendations for lenders who aren’t scared off by those circumstances would be great. 
    Many thanks in advance
    Paul
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    There are a number of lenders in the development space but the traditional lenders moved out of this space in 2008 when their balance sheets disappeared. The domain is now dominated by the bridging lenders who do charge a premium. Therefore often people try and look at more conventional methods of funding development as a first port of call. Experience is important but it is dependent on what you are planning and how you are planning to do. And from what you have suggested you have experience just not in the UK. I suspect more lenders will be worried about where the pot of cash came from!

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    Chartered Accountant, Tax Advisor and Mortgage broker

    (and BTL portfolio owner)

    stuart@johnsonsca.com

    02039077022


    Hi Paul,

    There are a number of lenders in this space with varying criteria.  A call to Property Tribes Financial Services on 01206 654444 will assist you in ascertaining which products you have access to with your particular set of personal circumstances.


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