Our Development loan application process in four simple steps

It is our aim to provide expert development loan solutions without the confusion. Here is a simplified version of the process you will go through when applying for development loans and finance.
 
1) Basic enquiry – We provide each of our prospective clients with free and impartial advice during an initial consultation over the phone where we will discuss your individual requirements, personal circumstances and the available options. As qualified bridging specialists, we will approve the decision to lend in principal there and then, whilst providing an accurate estimation of the borrowing costs.
 
2) Detailed quote and loan acceptance – It usually takes around an hour or two for us to source a suitable finance solution. Next, we will send you an email with a detailed quote once you have been accepted by one of our lenders.
 
3) Property valuation and legal works – If you decide to go ahead with the bridging loan offer, we will then need to instruct a valuation on the property you are using as collateral. Although this is not always necessary, the majority of lenders will require a valuation to be carried out.
 
Depending on the urgency of the situation, the necessary legal works can be carried out at the same time as the valuation although, in most instances, they can be dealt with nearer the time of the funds being issued.
 
4) Completion or Payout – Also known as Drawdown, once the loan is ready the funds can be released to the borrower either immediately or as soon as they are needed.

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    Development Loan Application Process July 18, 2020