by those with little or no experience. Putting up an additional property to be secured against the loan can go a long way to securing 100% of the finance required.
When it comes down to interest rates for property development finance then these will vary considerably on the individuals’ personal circumstances. Some factors that are considered include the size of the project, your future plans for development and how much it will be eventually worth. The majority of lenders will give you an interest rate of around 1.5% and 2.5%. When it comes to getting the cheapest rate a commercial finance broker will be able to source the whole of the market to find you the best deal for your specific circumstances. Lenders prefer to deal with brokers and will allow brokers to negotiate to get a cheaper interest rate based on the circumstances of the individual and their proposal.
Before approaching any lender and starting the application process for property development finance, you
