Development Finance

Bank lending to developers struggling post-Brexit

Mon 13 Feb 2017

Bank lending to property developers has failed to recover since falling before the Brexit vote according to peer-to-peer secured lending platform Saving Stream. The amount lent by banks to property developers has fallen 7% year-on-year, from £16bn outstanding in December 2015 to £14.8bn in December 2016 according to the Bank of England. The reduction is […]

LendInvest unveils refurbishment product

Wed 8 Feb 2017

LendInvest has launched a refurbishment product with interest between 0.92% and 1.1% per month which is rolled up and paid at the end of the term. The loan is based on gross development value, not loan-to-value – and is available up to 70% GDV. Customers can take out loans between £100,000 and £2m for terms […]

JLL: Car parks could help solve property shortage

Tue 24 Jan 2017

Hundreds of thousands of new homes could be built on car parks in the UK without losing parking facilities and helping to boost the number of properties being built, new research from real estate firm JLL suggests. Some 400,000 new homes could be built on 10,500 ‘surface’ car parks in towns and cities around the […]

Construction must increase to hit government targets

Mon 23 Jan 2017

The UK government’s target of building a million new homes by 2020 will only be met if there is a substantial increase in construction, according to a new report. The need for housing in England has in recent years grown faster than its supply and despite a target of delivering a million new homes by […]

LendInvest looks to double development lending

Mon 23 Jan 2017

LendInvest wants to double its development finance lending this year which it views as an underserved and growing area, its chief commercial officer Matthew Tooth has revealed. Tooth said development finance makes up around 20% of its lending by value as it stands, but by the end of the year it should make up a […]

Home Builders Federation backs LendInvest academy

Fri 20 Jan 2017

The Home Builders Federation has backed the LendInvest Property Development Academy as it kicks off its second course. The Academy course is a two-day intensive programme that takes 20-25 ‘students’ through seven hands-on, practical modules covering the full development project: from land valuation and acquisition, through to planning permission, supplier contracts, cost management and final […]

Interbay introduces title insurance for development exit product

Fri 20 Jan 2017

InterBay Commercial, part of specialist lending group OneSavings Bank, has introduced title insurance for its developer exit product for loans up to £2m. This recent change brings the developer exit product in line with its commercial and buy-to-let re-mortgage and purchase transactions. Darrell Walker, head of sales, second charge and commercial, said: “Efficiency and speed of […]

Report sets out barriers facing smaller builders

Tue 17 Jan 2017

Numerous and varied barriers, including finance, planning and red tape are preventing smaller firms from playing a bigger part in tackling the housing crisis in the UK, according to a new report. Over the past 25 years the number of SME builders has reduced by around 80%, but just getting back to the number operating […]

Consultation out on Scottish planning changes to speed up development

Mon 16 Jan 2017

Plans for major changes to the Scottish planning system have been published with the aim of zoning more land for new homes and promoting self builds. Like the rest of the UK, planning is regarded in Scotland as being not as efficient and speedy as it should be and the Scottish Government has set out […]

Fraud investigators issue empty property warning

Mon 16 Jan 2017

Home owners in the UK are being warned that there are groups of criminals actively targeting empty properties which they use to apply for a mortgage or loan. The scams are not new and the reason for the current spate is unclear but the National Fraud Intelligence Bureau’s Proactive Intelligence Team has issued a warning. […]