Increase In Number Of Homes On Which Building Has Commenced
If you are a property developer then you will no doubt be aware that there is a shortage of housing here in the UK although, if you have a borrowing requirement, you will be pleased to hear that there are many providers of development finance to help fund such building work. Therefore, it is good to hear that the number of new homes that developers started to construct in 2016 has gone up when compared with 2015.
In the 12 months to December 2016, building work started on 153,370 new residential properties. This is 5% more when compared with 2015 and is the largest number of new homes that building commenced on since way back in 2007. In the same period last year some 140,500 residential properties were completed with this being a drop of 1% compared to the previous year.
Whether you are a sole trader building one new property or are a large building firm constructing an estate of 100 homes and funding is required to help complete the project then there are numerous sources of development finance. For instance, you could approach your own bank or indeed a competitor bank or you may wish to consider borrowing the funds from a lender that specialises in development finance or through a peer-to-peer online lending platform.
You could do all the research to try to source the most suitable lending package but that could prove time-consuming for you and that time may be best spent in running your business. Alternatively, you could use a specialist broker that we could put you in touch with who has a number of years experience in helping source and arrange a development loan from an extensive panel of reputable UK lenders at his or her disposal. So, if that is something that you would be interested in, why not “start the ball rolling” and get in contact with us today.