Top tips for property development finance
At Cowgill Holloway we understand the need to secure the best deal when it comes to property development finance. There are more finance providers in the market than ever before and excitingly, they are demonstrating a real appetite to lend.
From Senior Debt to Stretched Senior, Mezzanine and Equity providers, Dave Rainford, Property Finance Director at Cowgill Holloway knows all the major lenders and understands the importance of identifying the most appropriate lender suited to your scheme.
Because identifying the best lender and obtaining support can be a challenge, Dave has set out his five top tips to consider when looking to secure development finance:
- Be frank in your dealings and present a ‘warts and all’ picture based on facts. It is far easier to mitigate issues at the outset rather than back tracking at a later date.
- Demonstrate your experience and that of your team through previous and current projects.
- Support your case through appraisal based evidence and comparable sales and cost information with back up from your professional team.
- Accept that demonstrable ‘skin in the game’ will be essential.
- Be realistic in your expectations on pricing relative to the risk profile.
In short, a well presented application with the correct supporting information, pitched at the right level to a carefully targeted lender is essential. But, deciding which product and provider is most appropriate for your circumstances can be bewildering and preparing the application can be complicated.
David Rainford is highly experienced in presenting to lenders on behalf of his clients and assisting in selecting the best provider. For assistance or advice regarding securing property funding contact David Rainford at Cowgill Holloway on 01204 414243 or email David.Rainford@cowgills.co.uk
This article is for general guidance only. It provides an outline, and may not include points which are important to your situation. You should not depend on this blog without taking advice based on the full facts of your case. The information given was correct at the time of publication.
The information was correct at time of publishing but may now be out of date.