How to get Property Development Finance + How to get Property Development Loans


First, the lender will look at the scheme and do their own evaluation of costs: what the profit is, saleability of the property when finished and the background of the applicant. If the deal is of interest, a meeting would be arranged with the lender to look at the site and get a feel for your experience, the lender would then prepare a report and submit it to a credit panel for approval. Obviously, if you do get to this stage, there is a high chance the Development Finance will be approved, although some do get rejected it would be a very rare occurrence.


Assuming you get credit approval, a formal offer will be issued. Normally, you will then have a set period of time to accept the offer; usually between 7-10 Days. If the  Lender includes a commitment fee, this is normally payable on acceptance of the offer of finance.


The next stage in arranging your Development Finance will include the Lender instructing a Surveyor who will evaluate the scheme and prepare a report including the value of the finished properties, how long they are likely to take to sell, and also if your costs and profits stack up.


You will pay for this report at a price pre-agreed with the lender. You usually get a choice of two or three surveyors, so that you can ask them for a quote. This report is used by the lender and unless it all stacks up, you will not get your  Development Finance.


Note this report is also a great leveller. As we all think our deal is great and the numbers all work, it’s good to have a second professional opinion that is backed up by detailed analysis. Assuming everything is ok with the report solicitors are then instructed (whatever time you think it will take to complete, double it, as Development Loans always take longer than expected).


Once you have completed and drawn down the first tranche of your loan for the purchase, funds are then drawn down in accordance with the amount of work you have completed on the site. A surveyor will come out and inspect the works and agree on an amount that can be drawn down from the lender. Once agreed this will usually be in your bank within 48 hours.


You will have to pay the surveyor a pre-agreed amount for each report and draw down during the course of the development. You can usually have a drawdown whenever you want during the construction stage, although most take one once a month.



To get the ball rolling give us a call on 0800 138 6001 anytime 24/7 or you can talk to us on chat or complete the web form and we will give you a call at a time that is convenient to you.


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Get in touch you can call us anytime 24/7  or fill in the form on this web page and we will contact you to provide your quote.


With over 20 years experience you can be assured of the very best help and advice from our team.


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Top 10 Finance Ltd Rex House, 4-12 Regent Street, London, SW1Y 4PE
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How do Property Development Loans work? How to get Property Development Finance?