Contrary to popular belief, the property development market is still growing, with more people than ever considering taking the plunge. Unfortunately, until recently most first-time developers have been restricted by lending guidelines requiring you to have completed 3 property deals before you are able to access funding.
NGI, however, are delighted to announce that we have a proven track record of being able to support first-time entrepreneurs as they venture into the world of property development. Providing that you have good cashflow, are using acceptable suppliers and can demonstrate that you have robust processes in place, NGI can help you complete the deal. Typically, we are able to help fund up to 100% of the build costs and up to 80% of the total costs, all at highly competitive rates.
Recently, we were able to help one of our long-standing clients, along with a group of investors, to purchase a residential development site that had only minimal planning permission. Our client was new to property development, but this did not stop us being able to assist him. With the backing of NGI, our client was able to not only purchase the site, but in fact to enhance the planning permission and then re-finance the site in order to cover the entire build cost. By utilising our knowledge and experience we were able to secure a bespoke funding package using 2 different lenders, ensuring that our client was able to realise his ambitions to enter the property development market.
Our client was so pleased with the outcome that he then referred us on to another customer, our favourite way to do business!
So, if you are considering venturing into the world of property but are unsure if you can access funding, why not give us a call and we can guarantee that we will always try our best to help you.