NFS can work with builders and property developers (including private individuals) to obtain the necessary funding for:
- Residential developments
- Residential conversions
- Residential refurbishments
- Mixed residential and commercial schemes
- Commercial schemes
- Property trading - acquisition, refurbishment, onward sale.
Funds are sourced from specialist lenders who are often able to advance significantly higher percentages than the clearing banks. In the normal course of events funding can be made available for up to 60% of the land purchase cost plus 100% of the construction costs for new build, and for refurbishments/conversions up to 65% of the acquisition costs. The decision process is also rapid and normally includes same day decision in principle. In all cases a first charge will be taken over the site and property.
In todays markets lenders expect developers/builders to have a good track record in the type of project that they are proposing, and as guide, projects should show a minmum of 25% profit on cost. Loan terms are normally up to a maximum of 2 years, with stage payments being released against certification, monthly or otherwise.
Once development is complete NFS can arrange longer term finance, if required.