MOD Selling Land For New Housing Developments
If you are a property developer then you may be interested to read that it has recently been announced that the Ministry of Defense is to sell off a number of its sites with some of the land being made available to provide new homes for people. This may result in an increase in applications for property development finance.
There will be 13 such sites that are sold on which it is forecast there will be in excess of 17,000 homes built. In the region of £225 million could be raised by such sales with these monies being utilized towards the defense of the UK.
The sites that are being sold for development include the likes of some airfields and barracks and other military sites. They are located in various parts of the country including counties such as North Yorkshire, Wiltshire, Oxfordshire and Bedfordshire to name but a few.
Property developers are no doubt aware that there is a shortage of housing in the UK so the above may go some way towards helping alleviate the problem. It will be interesting to see if there are any special development finance schemes that are made available for developers to apply for in respect of these sites.
Here at Commercial Mortgage Link, we are able to introduce property developers wishing to borrow monies towards either the renovation of existing properties or the building of new homes to a specialist mortgage broker who can provide guidance on suitable types of lending to meet your specific needs. He or she should be able to help source a suitable development lending package from the extensive panel of lenders at their disposal and help you put together an application for submission to the lender.
Of course, there are numerous lenders providing the likes of business loans, bridging loans and commercial mortgages to property developers to assist in residential building projects including banks, building societies and specialist lenders such as peer-to-peer lenders.