Development loans can usually be arranged very quickly, certainly faster than you would expect with a mortgage application.
Interest rates for development loans are not usually exceptionally high.
Only the disbursed amount incurs a penalty.
Apart from any deposit that might be required, you don’t pay anything upfront. This could give you cash to use for other purposes, or simply improve your general cash flow position.
You can use it to fund a new residential housing project, workspace development, or regeneration initiative.
Property development finance is a short-term loan for residential property developments, such as construction projects, and is usually advanced as a loan towards land purchase and a loan in stage payments for development costs in converting a property into flats.