- Development funding for letting / private sector rental for professional landlords with a minimum of 3 units
- Loans up to £10,000,000
- Lending up to 65% open market value OR 75% restricted investment value
- Planning consent must be unrestricted (units capable of being sold to owner occupiers)
- BLG will seek a rental valuation in addition to a sales value
- Letting may be taken from 120 days before forecasted practical completion if there is a qualified take out offer.
Each application is assessed and negotiated on its individual merits but the following general criteria will apply:
- Residential developments: houses, flats, new build, conversions and mixed-use
- Projects located in England, Scotland and Wales in areas with strong demand
- Projects must have planning in place
- Available for schemes with 3+ units
- Loans 100% secured on the development property.
- Experienced developers / house builders
- Must be a house builder with demonstrable track record.
How to apply:
We seek to be competitive on pricing and consider every project on its individual merits. Contact us to be put in touch with your local Regional Director, we will be happy to discuss your funding requirements.