Property Development Finance
Property development is a complex, and potentially risky business, especially in the current economic climate. A wide range of related matters need to be considered; access, planning, availability of services, geological considerations to name but a few. If one adds to this the thorny question of finding a suitable Lender to provide the finance, the difficulties of launching a particular project are greatly increased, especially for those who are new to the business.
This is where Business Finance Services Ltd can step in and take a considerable amount of strain off the Developer. Armed with information on the proposed project we can research our portfolio of Lenders to find those most suitable as a partner in the development of the property. In many cases, such as the one cited here, we will have Lenders prepared to go where the big Banks fear to tread!
A Case study - B.F.S. can take you where the big Banks fear to tread!
A client wanted to buy some land in Scotland, which had old farm buildings that he planned to convert into 7 separate dwellings. He was a professional with a fairly large income, but he had no experience of Property Development.
Partly because of this and also because the project was in Scotland, none of the major Banks or other Lenders based in England were prepared to fund his project. It was at this stage that he approached Business Finance Services Ltd and asked us for help. Using our experience and contacts we were able to find a Lender based in Scotland who was prepared to offer the necessary finance. The Land was purchased (with planning permission) and work on the development has now been successfully completed.
Result – A client who has seen a forlorn hope turn into a potential gold mine
In property development time is often of the essence, so knowing who to approach for property development finance and getting a quick decision are most important elements.