Money for my business

| construction lending | building loans | construction finance | construction loans | development finance | property development companies | property development finance | property developments |
| property development loans | development loans | property development mortgages | new property development | development loan | property development loan | construction financing |
| finance and development | property development company | property development funding | property development mortgage | commercial construction loans | commercial development finance |
| commercial property development | property developers | property developer | how to be a property developer | residential development finance |


Tel: 0845 034 5120

Latest news - Contact us - About us - Terms of use - Site map

Lismore House, 28b Wilton Road, Reading, RG30 2SS.






Increased interest in repossessed development site purchases.

Latest news

Development finance experts Money For My Business have announced a marked increase in interest from property developers looking to purchase repossessed and failing development sites.


Ann-Marie O’Neill of Money For My Business explained:


“During the property boom many property developers came into the market and bought sites with tight profit margins which have now been eaten away due to increased funding costs and funding extensions due to lack of new build sales. Some property developers find themselves in a situation where the lender has called in the loan or costs have increased so much that they need to sell up now, sometimes in mid-build, or face bankruptcy.”


With property developers on the look out for ready-made fast turnaround projects, these repossessed sites, with planning permission and with infrastructure ready, seem too good to miss. As enquiries for site repossession purchases are up more than 50% on the same time last year, the team at Money For My Business have been asked to quote on the same site more than once.


Ann-Marie goes on to explain: “Property developers looking at these sites should be aware that getting the purchase price right is the key to getting finance for the project. Lenders are much more risk adverse right now and are looking for much more profitable projects, sometimes as much as 25% after all costs. This can be difficult to achieve if purchasing a partially finished repossessed site as the vendor needs a certain price to clear their existing borrowing.”


The team at Money For My Business can still access finance for experienced property developers that, dependent on final site value, offers up to 100% of the projects build costs and 60% of site purchase price.


Money For My Business is currently offering UK Property Developers a free review of their property development finance needs. To access your free review call Money For My Business directly on 0845 034 5120

Call us
Get in touch
By email

0845 034 5120

By email

Click here to sign up to our newsletter and get the latest news delivered direct to your Inbox.

<< back to previous page