Find answers to the most commonly asked Property Development Finance questions with the Donkey Finance funding experts. Read our FAQ, or email the team.
Below are answers to the most commonly asked questions in relation to development finance and loans for developing a property.
Yes it is. We have several funding options available for developers at all levels of experience, even if this is the first ever project you have been involved with.
However, if you are new to building and renovating properties, our lenders will want to know that you are working with a skilled team who can provide the advice and support you require in order to see the project through to completion.
First time developers will also be required to work with a reputable building contractor who can provide a Fixed Price Contract as a means of ensuring your project does not run over budget.
If you need any assistance in this area, Donkey Finance can even recommend a team of professionals who will work with you to get the job done on time and within the projected funding limits in order to ensure that application and the project itself are a success.
If you have a poor or somewhat problematic credit history and you are trying to secure funds for property development then there are always going to be one or two lenders who will stand their distance and refuse to invest in your project.
However, most property development finance solutions are lent against the strength of the project itself, including the team of professionals with whom you surround yourself in order to ensure the work is realistically achievable and consequentially profitable.
If you have struggled to get finance elsewhere, please talk to our team and we will try to figure out a workable solution on your behalf.
If you are looking to buy a plot of land and you have not yet acquired the necessary planning permission, either for a new build project or for change of use with a view to further development, then your application for funding will still be considered by our panel of investors.
In most situations, we can usually secure funding worth up to 50% of the value of the development site, although we may be able to increase this figure if there is an existing property included with the land purchase.
When planning permission is eventually obtained, your original request will be reconsidered and additional funds can then be made available to contribute towards the actual development costs.
The answer to this question is yes. Donkey Finance has successfully secured property development finance for numerous projects with PDR permissions in the past and we have access to a variety of lenders and suitable funding solutions for these types of transactions.
Yes, you certainly can. It is perfectly legitimate and entirely acceptable to apply for development funds through a Limited Company or Partnership, provided the Director is able to provide a Personal Guarantee. Other than this, everything works in exactly the same way as it would if you were to borrow the funds in your own name.
Free... No Obligation, No Preliminary Credit Checks