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About your RBS Property Development Loan
RBS Property Development & Loans if you want a loan for property development finance, RBS Bank PLC do offer loans however they are normally reserved for existing clients who have a banking history with them and who are also accomplished property developers that have completed a number of developments with a track record showing their ability to complete the development on budget and have successfully sold the properties at a profit, your project will need to show at least a 20-25% profit margin on the total gross development value and be in a sound residential area showing healthy sales both now and in the past, RBS will very rarely offer more than 60% of your development costs and will usually expect you to put all of your funds towards the project on day one of the loan, this could be all of the costs towards the land or site purchase with the balance going to the actual development/Build costs, they will also cover certain professional fees such as architects fees and structural engineers etc, obviously this scenario does not suit all property developers who would prefer to retain as much of their own cash as possible to enable them to do more projects and so earn more profit from the cash they have, also not all developers bank with RBS or have the required experience, this is where other lenders in the marketplace come into play offering a far greater loan to value on their funding some even go as high as 90% of costs and they will also look at funding inexperienced and even first time developers who can show that they have the business acumen to complete the works on time to an agreed budget and sell the properties at a profit.
About costs and fees for RBS Property Development finance?
When taking out an RBS Development Loan they would normally charge an arrangement fee for you to take out the loan and this fee depending on how much they like the proposal would be in the range of 1-2% of the loan agreed, they would also charge you an exit fee which would be in the range of 1-2% of the total value of the properties you intend to develop and on top of this you would have to pay a surveyor to look over your costs and also the legal fees for their nominated solicitors, however there are many more lenders who offer finance to property developers and thee can and do offer more flexible terms with only an arrangement fee and no exit fees to pay exit fees can make up a large proportion of your overall finance costs so it pays to look at these closely before deciding on what is the best deal for your circumstance.
RBS Property Development Loans
Target Mortgages have been arranged property development finance for over 20 years and the directors are also experienced property developers this puts us in a unique position in that we can immediately tell you what funding would be available to you and also help secure you the best deals in the market.
We are here to help you every step of the way and understand the industry inside out, so get in touch today, you can give us a call anytime or contact us via chat or our contact form.
Property Development Finance is not Authorised or FCA regulated.