Uploaded on Nov 4, 2020
The business has had it just as tough, if not even more difficult and in particular, the building sector has been hit incredibly hard. From small “one-man bands” to big building companies manufacturers and developers have strived to find the Property Development Finance that they need.
Property Development Finance for Business
Property Development Finance for Business Call:- +44 2074594440 Since the credit crunch and through the continuing collapse of the credit market has been tough for nearly everyone. People looking to sell their own house to move up, in many instances, found it difficult to source the mortgage they need. The business has had it just as tough, if not even more difficult and in particular, the building sector has been hit incredibly hard. From small “one-man bands” to big building companies manufacturers and developers have strived to find the Property Development Finance that they need. It is not unreasonable that most builders will try their high street bank first, to find the required funding. The problem is that, for the vast majority of cases, the large banks and building societies are not interested. As soon as the words “development” or “build” are used the doors slam shut and excuses made. Firstly, simply because you believe the project is good the Commercial mortgage broker might not agree. We all have ideas and underwriting is, in many cases, just that - an opinion on the location, units being built, and the figures involved. You might think that the property will be worth 1m when finished but someone else might think it is only worth 700,000. So, you can expect to have to do some “leg work” looking for the right company to deal with and you have to be prepared to pay more for the money than you might be used to. Having said that the extra effort and cost are worthwhile when viewing the choice is often not being able to fund a project at all. Contact US For More Details, visit https://www.silveroakcapital.co.uk/ Call:- +44 2074594440
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