Development Finance

Development Finance

We have a broad panel of diverse lenders with whom we have excellent relationships with. As such, we know who to approach for obtaining the most favorable terms which meet our client’s circumstances and requirements.

Recently there has been a number of specialist lenders expand their products to include Development Finance, which means that there is greater competitiveness within this market. This has to lead to greater complexity within this field, resulting in the need for an experienced broker like Reliance Mortgages Ltd, who have access to them, to secure the best deal for a client. The properties do not have to be residential, as we can provide development finance for commercial properties, whether it be from a plot of land or developing an existing property.

Whilst experience of the client is key for a number of lenders, we can also package an application on a Joint Venture basis where this is required.

Typically lenders will lend up to 75% of the Gross Development Costs, providing 100% of the build costs. It is important to compare all the costs associated with the finance, as lenders will charge an arrangement and exit fee. That exit fee may be on the finance provided or the Gross Development Value. Typical rates are 7% pa, however, for the experienced developer, this can be considerably lower.

Think carefully before securing other debts against your home or your Commercial Property

Reliance Mortgages Ltd Reliance Mortgages Ltd (FCA No.794930) is an Appointed Representative of Connect IFA Ltd which is Authorised and Regulated by the Financial Conduct Authority (FCA No. 441505). The FCA does not regulate Business Buy to Let Mortgages and Commercial Mortgages to Limited Companies. Reliance Mortgages Registered Office: 1st Floor Holborn Gate, 330 High Holborn, London, WC1V 7QT. Company Registered in England and Wales Reg.11022139. Reliance Mortgages Ltd is registered with the Information Commissioner's Office under registration reference: ZA288283. Copyright © 2019 All Rights Reserved
  • Reliance Mortgages Limited (FCA No. 794930) is an appointed representative of Connect IFA Limited (441505) which is authorized and regulated by the Financial Conduct Authority.
  • Commission disclosure: We are a credit broker and not a lender. We have access to an extensive range of lenders. Once we have assessed your needs, we will recommend a lender(s) that provides suitable products to meet your personal circumstances and requirements, though you are not obliged to take our advice or recommendation. Whichever lender we introduce you to, we will typically receive a commission from them after completion of the transaction. The amount of commission we receive will normally be a fixed percentage of the amount you borrow from the lender. Commission paid to us may vary in amount depending on the lender and product. The lenders we work with pay commission at different rates. However, the amount of commission that we receive from a lender does not have an effect on the amount that you pay to that lender under your credit agreement.
  • The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
  • There will be a fee for mortgage advice the precise amount will depend upon your circumstances, but we estimate that it will be 1% of the loan amount.
  • A fee of £199 payable at the outset when you apply for the mortgage. We don’t charge any fee for insurance services.
  • Your home may be repossessed if you do not keep up repayments on your Mortgage.