Commercial Development Mortgages
The demand for good-quality businesses and commercial properties significantly exceeds supply in a number of sectors and regions. As a result, more investors are investigating the benefits of developing, renovating or refurbishing an existing property.
In response, lenders are making more development finance options available – particularly to experienced business-owners and property developers with a proven track record for these types of projects.
At Christie Finance, we are experienced in arranging funding for development across the sectors in which we specialise. As an independent broker, we are not tied to any particular lender. We have established trust-based relationships with leading lending institutions. We know who is offering development finance and who to approach to get the best deal for you.
Development loan features
The terms applicable to development mortgage facilities will vary considerably from lender to lender but, as a general rule, the following may apply:
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60% - 70%
loan to business value ratio
The Christie Finance Team
At Christie Finance we understand that developing a new property or significantly extending and/or upgrading an existing one can be both challenging and exciting. Rest assured that we will be with you all the way – understanding your requirements and explaining your options. Our experienced and knowledgeable Consultants will guide you through the finance options and mortgage application process, from your initial enquiry to completion. But we don’t leave it there: We are always available to discuss and review your commercial mortgage to ensure it is as competitive as possible.
When you are thinking about buying a business there are various things that both you and a potential lender will need to consider:
Experience – do you have the right level of expertise to develop the property or business you have in mind?
Location and status of the development – is the site in a good location? Do you already own the land and have the benefit of planning permission?
Viability – do you have agreed ‘off-plan’ buyers or operators? Can you show that rental demand will be strong? Will there be enough surplus income to be able to repay a loan?
Contribution – what are you able to invest in the business (savings, other properties, etc.)?
Personal history – do you have a clear credit history?