Are you planning for land development to increase your wealth?
Do you want to purchase another property?
Well, you must have plans on these aspects, but you must be looking for a funding option with better rates. At QuickLoansPoint, you get among the most competitive rates on property development loans in the UK.
Developing a property can be a valuable investment. You can take it as both the primary and secondary source of income. You may be thinking of purchasing a plot and building it later. Alternatively, you want to buy an existing property and rebuild it according to your planning and wish.
Sufficient funds must back up all these plans into your account.
If you lack sufficient funding for it, you have bespoke offers dedicated with the best rate personal loans for property development from one of the most reliable lending hubs.
Property development loans are the short-term financing sources embellished to finance a fresh construction of several properties on one security. Many lending institutions, both traditional and modern, offer these loans of two types - Residential and Commercial.
Before going for these types, you should know that these can be either secured or unsecured personal loans. When you go for secured, you need collateral to submit. On the other hand, unsecured loans usually apply when you need money just to fill the funding gap during the property purchase.
Residential Development Loans
Lenders offer residential development loans as short-term development financing. It can be accessible for up to four various units such as duplexes, townhouses, and triplexes. It is also a kind of mortgage that includes normal charges and is considered less risky than commercial ones.
Commercial Development Loans
Another form is commercial development loans. It is applicable for more than four residential units. It can also be a range of commercial properties and embed higher risk for the lenders. Compared to residential property refurbishment loans, commercial development loans attract higher interest rates due to the higher risk factor.
As the responsible private lender in the UK, we are open to every kind of investment property loans. Whether you have planned for residential or commercial property to develop, we are available with affordable funding available on individual’s circumstances.
| Residential Development Loans | Commercial Development Loans |
|---|---|
|
Not risky for the lenders |
Comparatively risky due to higher vacancy rates |
|
Lower interest rates |
Higher interest rates |
|
Funding up to 95% of property value |
Finance available up to 80% of property value |
|
You can obtain on lower deposit |
A higher deposit is needed |
|
Less fees and charges |
More involvement of other costs like valuation fees |
At QuickLoansPoint, our primary focus is offering you suitable finance irrespective of your development plan for a duplex or an apartment to live in or for commercial purposes. We know that different developers have varied plans, experiences, and properties.
Therefore, we try hard to be flexible enough so that everyone has affordable property development financing.
Loans for property development are short-term loans to fund different types of property developments. It is ideal to have a solution for developers who want to explore fresh opportunities. The loans we bring create an excellent chance to obtain funds for a new development project, whether related to less or more than four units.
You may need funds urgently to continue your project without any hassle. We understand the value of security property in growing your capital. If you get funds late, it can harm your opportunity.
Nevertheless, our property development loans bring instant funding for new projects thanks to our advanced internet technology. There are many more features of our bridging loans for property development.
Funding according to the current need
We have made our loans available for every amount. The need for borrowing funds may differ from residential to commercial, but we are available for everyone.
Flexible Rates and Terms
Fixed rates on property development loans may not suit everyone. Therefore, we follow a flexible approach in the interest rates and loan terms. You can select a suitable loan term as per your repayment capacity.
Funding for both New and Existing Properties
Our personalised loan deals offer quick funding to new properties, light or heavy constructions, or existing property to rebuild purpose.
Funding for joint ventures
Unlike other lenders, we have also opened our lending doors for joint ventures. Interest rates will still be competitive as on a single venture.
Up to 95% Financing
If you can afford to repay the loan, we can finance up to 95% of the property value. Sometimes, we can offer 100% if someone has an excellent credit record.
QuickLoansPoint feels proud to be more flexible on each loan deal than banks or other lenders in the UK.
Our FOCUS is on bringing customised loan offers to match the urgent need of the aspirants. You will find our loan against property on interest rates that are affordable to your earning capacity.
Our MOTIVE is to assist you in getting a loan matching the mortgage project and guide you throughout the loan term.
Our OBJECTIVE is to keep the rates as flexible as regular loans, particularly when your development project meets our loan guidelines.
Depending upon such values, we offer property development loans with including these costs:-
| Affordable Property Development Loans | |
|---|---|
| Arrangement Fees | Based on complete loan and charge on the first disbursement |
| Monthly Repayments | Interest-only basis and manageable |
| Early Repayment | No fee is charged |
| Late Repayment | Fees will be nominal |
If you are already in the activities like buying new properties before, you may have some experience handling bridging loans for residential property. As a novice to property development, you may struggle in getting the best deals.
As your reliable lender, we have taken the initiative to guide you in preparing for property development loans. Follow these measures:-
Decide the Amount to Borrow
We provide loans on the desired amount, but first, you need to consider how much you need. Or, you can also analyse your capacity and know how much you are allowed to borrow. Once you know the right amount, start applying for first-time property development finance.
Make a Clear Strategy
You should have a property development plan before going for the loan option and a clear mind about why you need to develop a property. Do you want this for investment purposes or living purposes? Whatever your planning is, try to share it with us so that we plan the best property development loans.
Application Process
Before making a decision on the loan, check whether the lender is offering comfort in the application process. Try to avoid a lengthy process, especially when applying online for private property development funding.
One thing that makes property development loans in the UK different from bridging loans is the lump sum amount. In bridging loans, the lender assigns the full amount to borrow at the start of the loan that you will repay through regular monthly instalments up to a certain period.
In a property development mortgage, the amount is released according to the development of that property. It crosses various stages, including:
After completing the project, the development loan gets automatically converted to a standard loan option. This procedure will save thousands of pounds, as you only have to pay the interest rate on the money paid to your account at that time or during a particular stage.
As far as to be eligible for small property development loans, you need to provide these details to us:-
Whether you plan for residential property development or a commercial one, getting the loans at affordable rates is your priority. We provide you with the same, and our experts will further help you by answering all your questions.
If you choose us for property development loans in the UK, you will have following advantages:-
We are just a few clicks away to approach a property development loan.
We follow innovative lending where everything is online and convenient to everyone.
Every aspirant has different credit scores. We follow an open strategy, and every credit score is welcomed.
If you are applying for property development loans for the first time, we have the best rates for you.
There is no need to pre-sell your properties, especially when applying for a residential property development loan. In fact, you can use those properties as collateral.
You should go for loans for property development in place of an investment property to get higher returns. Many people do that, but at the same time, it can be a risky option too.
You do not need to do anything extraordinary to get the right deal on a residential property development loan. QuickLoansPoint is a reliable loan provider where the interest rates are always competitive and affordable to everyone.
You can use property development loans for the following purposes:-
Yes, your business plan will make your loan application stronger. It helps calm down the costs and analyse the condition at each stage. Overall, you can better manage the loan throughout the term.