Hello ! I’m David Farrell, the owner of Quest Finance Ltd. Not sure which finance type you need ? Let me help you, here’s a quick outline:
Let me help you ;
The easiest way is to request a callback or call me direct and we can discuss your case and I can see what fits your circumstances the best.
I look forward to helping you
Quest Finance Ltd
FREE Cashflow & Build costs MS excel worksheet.
This is the same one we use to construct the detailed cashflow and determine the schedule of payments required.
Bridging loans are often used in property transactions, typical main uses of a bridge loan:
When a Bridging loan is used for larger property development eg the building of a house from ground up, or building of several houses, then rather than being called bridging finance its more often called a Development loan or Development finance.
Rates and lenders criteria vary widely, depending upon the circumstances and if the loan s classed as regulated finance ( for the property you live in / intend to live in ) or unregulated ie a property that is just being improved for commercial gain.
Just get in touch with what you need the bridging loan for and how much finance is needed and for how long, and we can normally quote you initial terms within 24 hrs
Bridge Loan – Do you have a building project that needs some finance? Whether your project is a one off new build, large extension or loft conversion, we can HELP YOU get the finance you need.
We can help you with;
If you’re a UK house builder and have been declined for property development finance, don’t despair. A broker can assist in finding the right lender and completing any necessary specialist documentation.
Despite an uptick in investment, small and medium-sized developers are still finding it difficult to meet rising demand for new homes due to a lack of financing. There are numerous reasons why this is happening, but one major factor is the government’s focus on large-scale developers, which has made smaller players come close to extinction over the last few decades.
We can arrange finance that suit you and your business from our large panel of lenders.
We can compare development finance lenders, to ensure we get the right property development finance lenders that will lend on your specific project, as some have regional areas they will / will not lend on. So for eg if you need development finance in Manchester, Bristol, Leeds or Birmingham etc we can search for lenders that will lend in that area. Many also have minimum property development finance loan amounts. Meaning that searching blind can take you days if not weeks. Let us help you find the right house building loan for you.
we compare bridge loan lenders – leaving you to do the bit you are really good at – building !
”Can I get 100% funding?” Yes you can.
We have lenders that will fund 100% of the purchase price and 100% of the development, lenders would like some additional security to be able to offer that. In simple terms the lenders want you to have ‘some skin in the game’. If you have nothing to lose, its easy for you to walk away, and they do not want a half built housing site in the west midlands ! They want you to have the drive to succeed and make the projected profits.
Most builders don’t actually need 100% finance, as often they either already own the land or can get a deferred payment option put in place. In these cases you get 100% funding of the build costs.
Interest amounts charged on these property development and house builder loans is typically retained by the lender until the construction project completion. At that time, the amount of the loan is paid back by the borrower plus the accrued interest. This means that the borrower doesn’t have to make monthly payments on a loan. Most developers and builders agree that making monthly repayments can be both inconvenient and difficult. This is mainly because cash flow rates can be nearly impossible to predict during the property construction period. Many lenders also prefer to receive a full, one-time repayment of a loan for funding build costs when building is completed.
Since property development loans are short-term loans, lenders have no problem with retaining interest charges until project completion. These loans are commonly issued for a time period equaling 6 to 18 months. Simple property renovations may require only three months to finalise
100% bridging loans are available with extra security eg your own or another property that a comfort charge can be placed on
”I’m new to this can i still get it ?” Yes – It is often used by experienced builders financing the development for a new build site, but equally its used by homeowners, or builders new into the property building market. Eg you might have been a builder doing extensions and renovations, and want to break into doing your own new builds
”What will I need ?” – Ideally we would like people to either be able to put in 50% of the initial site purchase cost themselves. Or you can negotiate with the landowner for a deferred purchase, whereby you pay him out of the profits at the end.
Ideally no major bad credit eg Bankruptcy, IVA’s or ccjs in the last 2 years, although this is non status lending the lender will still want to know you are a good overall risk.
We can help structure the deal to be acceptable and also guide you to who WILL lend to you based on the proposed development and your background.
”I have previous bad credit – can i still get it ?” – We arrange finance for businesses in all situations. We can even arrange finance for business where the directors are previously bankrupt, as long as they have been discharged for 2 years +
Unlike residential mortgage finance, construction finance is not credit scored.
Dealing with these lenders, we get to know, what each one typically likes to lend on, what development projects they would fund 100% and if your a homeowner seeking self build then who will lend regulated development finance, as not all lenders can lend on regulated finance deals.
We care & are here to help you !
If you have a project and need help building the case for finance, let us help you – OK you might be great at building houses, but finance structuring, cash flow forecasting and form filling ! – might not be your strong areas.
For the vast bulk of properties the exit route for development finance is the sale of the properties once built. It can be common for a few properties to be ‘still left over’ awaiting a buyer at the end of the project. This can frustrate the builder as often a large proportion of the profit is tied up in the last half dozen buildings. That is where you might need to use a development finance exit route . Quite simply if the properties are residential houses, we can help put in place temporary BTL mortgages, thus releasing 75% to 80% of the property equity, meaning the builder can use those monies to fund their next development. so if you need a development finance exit route sorting, just get in touch !
If you need a development finance exit route for commercial properties, then we can look to source a suitable commercial finance deal to enable the release of equity.
We work with a wide range of development finance lenders that lend across England and Wales.
We are very keen to work with Builders seeking construction development finance in; London, Bristol, Birmingham, Hereford, Gloucester, Aylesbury, Oxford, Luton, St Albans, Cheltenham,Worcester, Reading, Bournemouth, Poole, and Exeter