100% finance – too good to be true?

If you’ve been in property a while you may remember the halcyon days of 100% finance for buy-to-let mortgages.  Sadly, all long gone, since the credit crunch sent the banks running for higher ground where deposits are required.

I’ve just discovered that there’s a new player in the field offering 100% finance for development projects. 

This is a finance opportunity for new build or conversion projects looking for £500K upwards.  They are offering 100% finance in return for a 50:50 share of the profits for the right deals.  It’s virtually a JV, with a sophisticated investor who understands property.

Usually a developer needs to front up between 30-50% of the land purchase to get the project going, but this new finance option will lend 100% - with a few criteria.

Do you qualify?

• The loan can be from £500K upwards.
• There’s NO INTEREST – but the profit on the gross development value (GDV) of the project must be at least 30% and there will be 50:50 split of the profits.
• Ideally you’ll have some experience of the kind of project you want finance for, but with the right deal they’ll consider first timers.
• It applies to new builds AND conversion projects too.

Clearly, not everyone will be eligible, but it’s worth taking a look if you’re aiming to do more development projects - or even big conversion projects.

In my book, this is a fantastic opportunity.  If you’re interested give me a call on 07889 526979.

• Attending an upcoming webinar - register here
• Booking into a LIVE! 3-day workshop - book your ticket here
• Get instant access to the full programme with the online training - click here for more information