Top 10 Finance Ltd Rex House, 4-12 Regent Street, London, SW1Y 4PE
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We are registered and comply with the Data Protection Act (1998). Registration No: Z2861884 Company registered in England number 06261373
Property Development Finance London, their over 100 lenders who offer property development finance in London, and most of them have a preference when offering finance on property in and around London the reasons for this are mainly that traditionally London has always been a hot spot for buyers from all over the world, who invest their funds in bricks and mortar in London which is seen as a global city and safe haven for their capital although like anywhere else prices can fluctuate however London has always bounced back strongly from any temporary downturn and the ongoing pressure of a rising population is constantly putting pressure on prices through the limited availability of stock.
The central areas called Prime central London are the most in demand with many properties being sold off plan to far eastern investors, although many of these transactions are flipped when prices are rising and when they are stagnant buyers will just sit on the properties often not even bothering to rent them out.
After the financial crisis of 2008 the London market was in a very precarious state and stayed that way until 2010 when the market started to come to life and prices started picking up from 2010 until 2014 prices exploded with some properties increasing by as much as 100% when investors and buy to let landlords pushing prices higher and higher as buyers and property developers fought for stock, however stamp duty changes and the 3% second home tax brought in by the chancellor George Osborne severely affected prices and the demand for properties.
However, Lenders continue to offer property development finance in London because they are confident that their will always be buyers for the properties from not only the UK but also overseas buyers wanting to get on the property ladder.
We work with all of the specialist lenders who offer property development finance in London and very often they will offer special interest rates as they compete for business, these can be as low as 4% pa, and whilst prices have stalled over the last few years property developers are still active in London as are many lenders one of the reasons for this is that many lenders are actually based in London and know the market well and have confidence that at the right level of pricing properties will always find a buyer willing to pay a reasonable price in the expectation that sales will be strong.
The preferential deals for lenders tend to be flats or houses with resales of each unit from £300k up to £5m above this it is a very specialist market and units of £5m plus can be hard to sell if the market stalls.
Top 10 finance are based in Central London and have been offering London development finance for over 20 Years during this time we have built close relationships with both banks and specialist lenders who offer finance to the London market, whilst some lenders from outside the capital do offer finance it is important to deal with lenders who feel comfortable with the prices in London, if a lender is based in Leeds the notion that a one bedroom flat in London is worth up to £500k seems a million miles away from their own market, this is why it is important to deal with lenders who fully understand the prices and various locations and how they affect resale values.
By dealing with lenders who know the London property market we are able to get you the very best interest rates and deals for your development finance in London and the London boroughs. Over the years we have arranged finance for flat refurbishments, new build projects of flats and houses and also mixed residential and commercial developments from £300k up to £10m.
What you can do now
First of all we need a conversation with you about what your project is the location and details of what you intend to develop, we also require a detailed breakdown of what you think your costs are likely to be in order for you to complete the development, these would include your purchase price for the site any architect and professional fees that you will incur the cost of construction and any other costs you will have to pay in order to complete the development such as estate agent fees and payments to the local council. We can then quickly work out which lenders would offer you finance and what their interest rates would be. We can then go through the offers with you and work out which one would be the most cost effective for your circumstances.
Give us a call or fill in our web form to get started now. With over 20 years experience you can be assured of the very best help and advice from our team.
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