Where to Get Funds for Building Development

By: Cherry Bo

There are two choices in developing a building in the UK: acquiring site and develop a building from scratch or acquiring derelict buildings and convert them into improved and more useable building. This is true whether your purpose for the acquisition is for residential or commercial use; but which ever way you acquire a building, you need to know how to finance it.

The first option to finance is to get loan from the street banks. You need to have a good reputation, good credit background, clear project proposal as well as the right experience or expertise in project development to have your application approved.

The second option is for you to utilize money from your own pocket; usually from funds in your other businesses. If you have other established businesses that are kicking off; or if you have huge savings from your other businesses; then use them up to fund building acquisitions: if, and only if, it will suffice your needed development finance.

The last, but definitely not the least option is to get from specialists on property development. Here, you can be funded with the needed terms, conditions, and financing plans (whether its , refurbishment loans, bridging finance, etc). Most developers take advantage of the specialty and expertise?from?these companies for the needed?and residential development finance.?The companies can work with you?starting from?formulating the?proposal to choosing the right lender and assisting you in delivering the project output. In effect, companies?providing development finance UK does not only offer the needed funds for the property development but also has other services that?assists in?the project implementation and completion.

Real Estate
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Real Estate
 



Share this article :
Click to see more related articles