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Natwest Property Development Finance

Natwest Property Development Finance  & Loans if you are looking for a loan for property development then natwest bank does offer to fund however it would normally be for existing customers with a natwest bank account, they would also offer to finance only developers who have a substantial track record of developing similar schemes to the one proposed, however Natwest are far  from the only lender that offer development funding, after the credit crunch most banks including natwest pulled out of the market place refusing to even offer loans to existing clients, basically lenders see development finance as a risky proposition, only when property prices and sales started to pick up in 2010 did they re enter the market and then cautiously with old clients, as it is today, the good thing about this was that prior to the financial crash there were a limited amount of lenders who would provide funds for developing the six main banks and just a handful of specialist lenders probably no more than 20-30 lenders in the whole of the UK, this meant prices were getting high with large arrangement fees, interest rates, and exit fees, since then many more lenders have started to offer finance at the last count we were dealing with over 70 lenders all completing to get your business.

 

We work with all of these lenders who offer a variety of financial products to cater for all types of property development from a single unit to schemes of 20 plus, they will also finance small amounts from £50,000 up to £10m and offer finance in all corners of the UK, so Natwest should not be your only option, when looking for development finance.
 

What Costs for Natwest Property Development finance?

 

The first thing most borrowers ask is what are the interest rates, which should be taken with a pinch of salt as other costs can and are incorporated into an offer which should all be taken into account to come up with an overall cost for comparison, interest rates start at 4% pa. Which is where a bank such as  Natwest would be but on top of this you have to include an arrangement fee of 1-2% of the Loan amount, then banks would also ask you to pay what they call an exit fees and this can be as high as 2% of the total development value so can be substantial if you think about most developers work on 20% profit margin so this exit fee would equate to 10% of your profits, so like I said it is not just about the interest rates, we have lenders who will charge an arrangement fee the same as a bank and interest rates of 6-9% pa. But no exit fees at all so whilst the rate looks higher when taking into account no exit fee they can be substantially cheaper in the long run, you will also have to factor in a valuation and legal fees.
 

Target Mortgages have been working with development finance lenders for over 20 years and have built solid relationships with lenders meaning we have access to all of the best deals in the UK. To get your development kick-started and see what rates and deals you qualify for, give us a call now any time of the day or night seven days a week, or contact us via our website for a call back at your convenience.

 

 

Development finance is not covered financial conduct authority or FCA regulated.

We are registered and comply with the Data Protection Act (1998). Registration No: Z2861884  FCA Company  registered in England number 06261373 privacy policy

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Top 10 Finance Ltd, Development Finance Rex House 4-12 Regent Street London SW1Y 4PE

 

 

 

 

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