1) The GDV is less than £3,000,000
2) The loan required will be less than 55% of GDV
3) The loan can be secured by a first charge on the property
4) Planning permission has been granted for the development
5) The development is in England or Wales.
Provided the loan is sufficient to repay the borrowings and pay the development costs then an application will still be considered.
Following acceptance of the indicative terms of the loan, the developer will have to pay for a valuation, a report from the Quantity Surveyors and legal fees to confirm Title. Provided the reports are acceptable, loan documentation will be completed. PDF Match will charge a 2% loan arrangement fee and the borrower will pay six monthly interest and monitoring fees at a rate which will be agreed prior to the issue of indicative terms.
Loans can be offered for various periods between 9 months and 18 months. The period needs to provide sufficient time to complete the development and sell or refinance the completed property.
If you wish to register an interest in becoming a borrower please register below …