If you are looking to finance the purchase of a residential property to either convert into flats or rent as a whole property, we can help you find the finance that you need.
Residential Property Finance, otherwise known as Development Finance, can be utilised for a variety of building projects such as property conversions, flat conversions, or renovation of a property with the intent of then renting it out.
Building projects, such as converting a large house into flats, can be a great way of increasing portfolio value and be challenging enough in its own right, without the hassle of cashflow and funding issues. However, with the correct funding, the project can be a lot more rewarding and less challenging.
This type of funding is similar to a bridging loan, in as much as it is a short term loan, with lenders expecting the funds to be repaid upon completion or sale of the project, or when it has been refinanced.
Here at Interfinancial, we will help you to secure the funding solution that you require as quickly and hassle free as possible. We can help you to find funding from £10,000 to £5 million, whether that be for a single or multiple properties.
You will usually be able to borrow up to 70% of the value of the land, along with 100% of the build costs.
What can Residential Property Finance be used for?
How soon do you require the loan?
What is your exit strategy? (What are your plans for repaying the loan)
Do you want a secured or unsecured loan? (Do you have anything you could use as security or collateral?)
Do you have a good or bad credit rating?
For more information…
To find out more about how our short term finance solutions could work for you, request a call back using the form on this page. There is no obligation, and you will find our friendly operators willing to help you in every way.