Property Developers Tips – Tip 4
Welcome back to the fourth and final video in our series where I’ve been offering tips to property developers as they think about and prepare for their next project.
Having arranged in excess of £4 billion to help over 7,000 property developers carry out their projects, I’ve picked up some tips and techniques along the way which I think you will find useful.
So, as you think about your next development project, enjoy tip number four!
Hi, Keith Park here at Funding Track.
And welcome to this, the fourth and final video in our series of tips that we’ve been giving to property developers as they think and prepare about their next project.
So, tip number four.
100% funding is available without you as a developer having to put any cash into the transaction.
Let me explain how that works.
I have a client right now where we are arranging 100% funding for him. And how it’s structured is that the lender, they are taking a first charge over the development as the main security, but then they are also taking a second charge over his main residence behind the existing first mortgage.
And that is effectively the additional security.
The net result is that he is able to raise 100% funding without having to put any cash in, which of course means that he is able to move forward in the project that otherwise he wouldn’t have been able to do.
So, 100% funding is available and if you have your main residence with equity in it or perhaps a buy to let investment property with equity in it, you can use those as additional security to enable you to move forward on a transaction that otherwise you wouldn’t be able to do.
So, remember, 100% funding is available without you having to put any cash into the transaction.
I hope you’ve enjoyed this series of four tips as you think and as you prepare for your next property development project.
And if you’d like to find out more or if you’d like to speak to us, either visit our website at FundingTrack.com or alternatively click on the link with this video.