Kingston Finance Ltd

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Property Development Finance

If you are involved in the building industry or make a living from property development and refurbishment, then the good news is that funds are available for profitable projects which fit criteria. Property Development and Refurbishment loans are provided from £50K upwards.

A brief synopsis of the current underwriting criteria:

  • All residential property types supported – Houses, terrace, mews and flats
  • Applications should be supported by good evidence of demand in the local area
  • If properties are to be retained on completion a long term re-finance option can be provided
  • Mixed-use and commercial schemes can be supported subject to a demonstrable demand on completion
  • Developments should demonstrate sufficient margin to absorb any possible future reduction in the anticipated Gross Developed Value (GDV) of the project.
  • The borrower or proposed main contractor should have a good CV and be able to demonstrate experience in the sector.

Under normal circumstances, we provide loans equivalent to 70% of the estimated GDV of the project however, for experienced developers and if additional security is made available we can often provide funding up to 100% of all site purchase, development and finance costs. We can also introduce mezzanine loans secured on a 2nd charge to provide any additional ’top up’ funding.

construction site
construction worker

Light & Heavy Refurbishments

Light refurbishments are usually defined as cosmetic changes to a property such as replacing a kitchen, rewiring, or redecorating. By contrast, heavy refurbishments are when structural changes are being made to the property, especially those that may require planning permission.

Lenders have different products, rates and criteria for both light and heavy refurbishment deals, this reflects their differing appetite for certain types of projects. For example, we have lenders on our panel who have a very strong interest in community projects or eco-friendly developments.

Because we have such a large lender portfolio we are able to source the best possible rates and deals for your specific requirements and unique situation. From mainstream high-street banks to specialist lenders.

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