Residential property development finance lenders
BLG, established in 2003, has the necessary experience to help residential developers overcome the boundaries that can be stipulated by the high street banks. We will give you access to the money you need to fund your land purchases and the building of houses, flats, eco-homes, or mixed‐use buildings. Our residential property finance also gives you access to top‐up funds or previous residential property development loans for build to let landlords.
BLG’s residential development finance
- Provides bespoke residential property funding solutions for residential developers across the UK
- Suitable for building or converting one home or hundreds, we will help you choose the right solution to help you build while maximising your profit.
- Available to housebuilders and developers on competitive terms
- Decisions made quickly so that developers can move quickly to purchase and secure their site or, if the site is already owned, to begin the building works.
Choose funding for your next project:
Typical residential property funding terms
Most residential property funding ranges between £1 million to £15 million or more. The release of funds can be staggered over the project’s timeline, which is a popular financing option.
A staggered release of the residential development loan keeps interest payments lower than accessing all the funds at the outset. The interest rates vary from lender to lender and are usually based on risk and the project’s size. Each lender views risk and project size differently, and we will help you find the option that makes the most sense for you.
The residential property development loan term usually has a duration of 12 to 24 months. However, it can take several weeks to complete the application process and secure the funding, so it is best to apply as early as possible. If you have a tight deadline, please let us know.
We offer residential property funding to individuals, limited companies, partnerships, LLPs, and overseas borrowers with a UK limited company.
Repaying your loans
At the end of the loan term, you will need to pay back your loan. This usually happens under one of three scenarios.
- You may sell the homes or flats and use the sale to pay back the loan, leaving you with your profit.
- Refinance the units with a buy to let mortgage if you are intending to let out the properties and build a property portfolio.
- A development exit finance, which is a short-term loan with a lower interest rate. This option is ideal for projects where a buyer is not in place, and you will need time to market and sell the properties, beyond the timescale of your original loan.
Secure your finance with BLG
Whether you are looking for stretch senior development finance, commercial development finance, or build to let development finance, BLG is ready to help you secure the residential property development loan you need. We also help arrange mezzanine development finance working with third-party mezzanine funding providers.
BLG has a patient team of experts ready to help. We offer support from pre‐sale to purchase and completion. Our goal is to help you build, so contact our team today to find the right residential development loans to suit your needs.