Property Development Finance Loan
- Property development finance is a type of loan that provides funding for the construction or renovation of residential or commercial properties.
- Property development finance can be used for various purposes, such as land acquisition, planning permission, site preparation, building costs, professional fees, marketing, and sales.
- Property development finance is usually short-term and interest-only, meaning that the borrower only pays the interest on the loan during the development period and repays the principal at the end of the term or when the property is sold.
- Property development finance is typically secured by a first or second charge on the property, which means that the lender has the right to sell the property if the borrower defaults on the loan.
- Property development finance can be obtained from various sources, such as banks, specialist lenders, peer-to-peer platforms, private investors, or crowdfunding.
