Those projects need to be financed, of course – so in this episode I grabbed development finance broker Adrian Cormican to find out how lending works in the development market.
Listen to this week’s show and learn:
- The type of projects that require development finance rather than a typical mortgage
- What the 3 components of development finance are
- How “mezzanine lenders” reduce the amount of capital that the developer needs to put in
- The rough rules of thumb for how much the borrowing will cost
- How to present yourself to a lender to make sure you secure the finance you need
- How to get started with development projects when you don’t have any experience
- What Adrian thinks lies ahead for the market in London and the rest of the UK
If you’d like to find out more about what Adrian does, visit Hallcroft Finance’s website.