If you’ve been in property a while you may remember the halcyon days of 100% finance for buy-to-let mortgages. Sadly, all long gone, since the credit crunch sent the banks running for higher ground where deposits are required.
I’ve just discovered that there’s a new player in the field offering 100% finance for development projects.
This is a finance opportunity for new build or conversion projects looking for £500K upwards. They are offering 100% finance in return for a 50:50 share of the profits for the right deals. It’s virtually a JV, with a sophisticated investor who understands property.
Usually a developer needs to front up between 30-50% of the land purchase to get the project going, but this new finance option will lend 100% - with a few criteria.
Do you qualify?
Clearly, not everyone will be eligible, but it’s worth taking a look if you’re aiming to do more development projects - or even big conversion projects.
In my book, this is a fantastic opportunity. If you’re interested give me a call on 07889 526979.