As property developer, it is important that you know how much funds you need to complete a project. If finance is required to fund your project, you will also need to know with reasonable certainty how much loan you are able to borrow for your project. Generally, a commercial / business lender can lend up to a maximum of 65% of the Gross Realisable Value of the development project (this is the Gross amount of sales your development could achieve).
Lenders will typically, among other things, look at the following when deciding whether to finance your project:
Unlike residential construction loan, getting a loan to finance your property development is highly complex. To maximise your chance that your application for the property development funding will be approved, your submission must demonstrate that you have considered different aspects of the project as well as the project viability.
Talk to us if you need assistance with property development loan.