Commercial Property Development Finance

An Independent Specialist Consultancy
UK Nationwide
No ‘up front’ fees
Totally Confidential
Fully Managed Service
Unbeatable Level of Client Service

Commercial Mortgages

We can help with: owner-occupier, commercial Investment, medium-term loans, SIPP / SSAS and more…

Bridging Finance

Short-term ‘bridging’ finance can be used for a variety of purposes, from a broken chain to auction purchases.

Property Development

We love supporting developers! Single and multi-unit builds, phased developments, major refurbishments, joint venture lending.

Buy-to-Let Mortgages

Purchases and refinances. We can help you secure funding on: houses, flats, HMOs, multi-unit properties, holiday lets and more…

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FAQS

With a Property Development loan much depends on the type of project being undertaken, the overall borrowing requirement and the anticipated profit margin that project will generate. In addition the proven experience of the developer, their financial standing and / or the proposed contractor will also count heavily towards the underwriting decision.

The applicant will have no fees to pay to secure an ‘agreement in principle’ ( AIP) offer from the mortgage provider – we offer this service free of charge. Once the AIP is accepted by the client it will be necessary to schedule and pay for any valuation report(s) needed by the underwriter. The cost of which will vary dependant on the size and scope of the project. At which point a non – refundable commitment fee may be payable by the client to cover underwriting costs – this is generally deducted from the loan set up fees.

After the valuation reports confirm a positive and viable loan proposition the lender will issue the formal offer subject to legal due diligence. Some lenders will require their own legal costs to be covered by the client though it may be possible for the clients / lenders solicitor to represent both parties. In addition to the interest charged on the mortgage or development loan there will generally be a set up fee of between 1% and 3% of the loan.

There are no hard and fast rules and each case will be assessed on merit. In general terms we advise our clients to be prepared to deposit circa 25% to 30% of the property or business value. ie a LTV in the range 70-75%.

CASE STUDIES

How we’ve helped previous clients

Loan Type: Development Funding
Loan Amount: £3,000,000
Location: Cumbria

The client was purchasing a site with planning for Ten detached homes.

The properties would be built and sold on the open market to end users. The development loan provided funds for the initial purchase of the land and associated costs with the development loan drawn down in stages at the completion of different stages of the build.

Loan Type: Bridging finance to development and Hold
Loan Amount: £260,000
Location: Cambridgeshire

The client in this case was looking to purchase a semi – detached house in Cambridgeshire.

The client had identified the property as suitable for permitted development planning into a six-bedroom HMO. Funds were made available for the initial purchase. Once planning was received the conversion works were 100% funded, with the exit onto a term HMO buy to let mortgage.

Loan Type: Commercial mortgage for owner occupier
Loan Amount: £390,000
VAT Loan Amount: £78,000
Location: Midlands

The client approached us for help in funding for the purchase of their own premises. We arrange the funding with a high Street Bank on good terms along with a short-term VAT loan to cover the VAT element of the purchase short term.

Loan Type: Part Owner and part Investment Mortgage
Loan Amount: £240,000
Location: Wales Borders

Loan arranged for a First-time property buyer, buying their five-year leased premises, using the ground floor to continue to trade and the first floor flat to rent out for further income.

WHO WE ARE

OUR BUSINESS CREDENTIALS

Pask & Pask Commercial Finance are an Independent Specialist Consultancy, we provide Commercial and Business Finance support to SME clients throughout the whole of the UK. Whether your business is well established or a new start we can help you with Commercial Mortgages, Property Development Finance, Business Loans, Short Term ‘Bridging’ Finance, Factoring, Equipment Leasing and advice on Grant Funding and how to secure funds via the Government Enterprise Finance Guarantee Scheme (EFGS).

WHY USE A SPECIALIST COMMERCIAL BROKER?

We are genuinely independent, wholly impartial and we offer straightforward honest advice, given freely and without obligation. Through our established Lender Partner network we give you immediate access to over 250 alternative UK based Commercial Lenders and Private Banks. All of our Lending Partners have funds available to lend and are genuinely still keen to support the right proposition and provide a genuine and viable alternative to the High Street lenders

When your own Bank has failed to offer the support you need then call us. We will quickly assess all the available options for you and we will do everything possible to find a workable and affordable business solution.

Time and again we prove to our clients that we can secure funding where others fail and, in the majority of cases, our advice will save you very significant amounts of money over the course of the loan. The majority of specialist lenders in the current marketplace will only accept qualified and packaged mortgage and loan proposals from Specialist Brokers such as ourselves.

AN UNBEATABLE LEVEL OF CLIENT SERVICE AND NO UP-FRONT FEES

We offer all our clients a true ‘one stop shop’ facility, our focus is to provide you a fully managed and professional service to secure the most competitive funding offer available from the entire market. In addition we can, if required, organise any property valuations, insurance and legal support necessary to complete the transaction. We will package and submit the proposal to ensure your funding application is positively sanctioned and approved with funds being made available in the fastest possible time.

Whatever your Commercial Funding requirement we offer you a free, impartial and totally confidential initial consultation and we will quickly assess the funding options available to you. We guarantee there are no ‘up front’ fees to pay until we have secured your Agreement in Principle for the required funding.

Please call us today to see how we can help or submit an enquiry and we will contact you. Our advice is given freely, in confidence and without obligation.

We look forward to being of assistance and securing your Commercial Finance requirements.