How I got finance for my first new build development.

Financing a property development is challenging at the best of times!  Banks prefer to lend to developers with a track record so …. How did I finance my first new build family home?

Well luckily the Credit Crunch arrived – and ……

I had secured the development; gained planning approval on the side plot – but nobody was lending – and I was a first time developer of new-builds!

I needed a different strategy.  So I set out to find someone that had done it before with the intention of raising funds to build, relying upon their track record.  I would split the profits with that party, creating a win/win situation for both of us.

So that’s what I did.   My architect made the introduction (the power of networking!).  The relationship and experience has been very successful and now we aim to do another joint venture together.

I’m on my way…

Site opportunities are rare – if you are reading this blog and think you know of any unwanted/unloved homes; bungalows on large plots, or just a piece of waste ground in a residential location, do please get in touch via our contact page.

We always pay a finder’s fee.

Thanks,
Jane.

Useful Data:

“The number of newly-built homes for sale in London fell to the lowest levels on record last year, according to research.” – click here – to read more.

“Housing market confidence hits two and half year high” – click here – to read more.

“Number of new homes built could hit lowest level for 88 years” – click here – to read more.

Posted in Finance by / April 20th, 2010 / Comments Off on How I got finance for my first new build development.

Comments are closed.