Here at Chordis Capital, as development finance lenders, we offer Ground Up Residential, Commercial Conversions to Residential and Airspace Rooftop Development finance.
- Up to 90% LTC – 65% Day One – 75% of GDV
- Rates from 0.8% per month
- 24 month term
- Ground Up and Conversion projects
Loan size up to £6,000,000.
Many applicant types considered: Either (i) up to four individual persons or (ii) limited companies or equivalent corporate entities (companies registered and trading in jurisdictions other than England and Wales are permitted with a local legal opinion and subject to funder approval). Borrowers and guarantors must be at least 18 years of age.
Term: 6 to 24 months
Interest and Fees rolled into the loan
Minimum property value £100,000
Security First Charge over the property. (Personal Guarantee and Debenture if lending to Limited Company).
Application Fee: £1500
Arrangement Fee: 2%
Exit Fee: 1%
Repayment Type: Interest payments may be rolled, retained or serviced for the term of the loan.
Loan Exit, Servicing and Affordability
Detailed exit strategy required for all loans.
Proof of funds will be required for deposit and completion funds.
Acceptable Property types include the following:
- Commercial with Planning to Convert
- Land with Planning
- Single Unit
- Clients are required to have a track record having completed a minimum of 3 previous developments.
- Clients are required to have a minimum credit score of 640 with no derogatory incidents within past 4 years.