With Brexit still dominating the headlines, uncertainty still consumes the UK economy.
As a result, smaller developers are putting off project plans, due to the consensus that finance isn’t readily available in such a volatile time.
However, there are more specialist development finance funders on the market than ever before, each one with a varied appetite, meaning there is usually someone out there for everyone.
Specialist funders also tend to be more imaginative in the way they look at deals, which helps those that are new to the sector or if you are less established than others.
If you are new to the market, by ensuring that your business plans are in good shape and you can still make a margin, there will be no need to put any upcoming projects on hold.
Think about the future…
By continuing your projects now and using specialist funders, when the time comes, you will be giving the larger lenders the reassurance that you have enough experience for them to fund the next project.
Once you have a couple of successful projects behind you, the high street lenders will be more willing to fund future projects, pushing you onto a lower rate than the specialists.
Many specialists are only accessed by brokers and aren’t available on the high street so, if you’re a new or small developer looking for finance, contact one of our property finance specialists on info@mafpropertyfinance.co.uk, call 0115 958 6872 or fill an enquiry form.