The Positives Surrounding Development Finance, Post-Covid
October 20, 2020NapeX Finance Monthly Update
March 24, 2022NapeX Finance Market Update “Powered by Knowledge”
NapeX Finance Market Update “Powered by Knowledge”
Buy to Let & Residential Investment
Over the last month we have seen what can only be described as a “war of the rates with the lenders”. The lenders are fighting for market share which has had a huge impact on rates and loan to values. The competition within the space has seen our traditional buy to let lenders venturing into the specialist space for market share and are now offering finance on houses in multiple occupation, multi units, blocks of flats and in turn driving down the rates within the specialist lenders.
- Finance from 2.99% for up to 20 flats/rooms.
- Specialist lenders that can lend against the investment value on blocks of flats.
- Launch of a new bank for specialist residential lending.
- Finance for all types of residential up to 80% loan to value.
- Holiday let funding expanding across our lenders.
- Many of our lenders can now use online valuations saving time and cost.
Development, Bridging Refurbishment and Conversion Finance
Its refreshing to say that there has been a large return to pre-pandemic levels with a many of our lenders again increasing their maximum loan to values. This is further bolstered by in my view one of the most competitive bridging markets that I seen over the years with rates coming down across the lenders and loan to values moving upwards in all areas.
An interesting development for us is the rise in use of private lenders for our more complex/specialist cases with our developers purchasing un traditional buildings to take through full planning or complex enquiries that the market is struggling to place.
- 70% loan to gross development value.
- Mezzanine lenders up to 75% loan to gross development value.
- Bridging finance at 75% with rates from 0.65% a month.
- 85% loan to value for light refurbishment.
- Land finance/complex property up to 70% loan to value.
Commercial Mortgages
To continue the theme of positivity we are delighted to welcome a new bank focusing on commercial property with finance available up to 75% loan to value. The high street banks appetite is returning slowly however still relatively restricted and a majority of our clients are utilising our specialist banks where appetite is strong and consistent across all types of commercial property.
- Rates at 3.5% up to 70% loan to value.
- Finance on all types of property in particular retail, hotels and leisure.
- Interest only available.
- Finance for shorter leases/licences.
Our Partners:
EMW Law LLP
We are delighted to announce that we have together with EMW Law put in place a fee scale for loans up £2,000,000. One of the areas we believe that can make a huge difference to our clients loan journey is working with great solicitors who are proactive and can work with all sides. We have enjoyed a great relationship with EMW who have supported many of our client recently with an excellent service.
Revvis
Revvis transforms any development’s 2d architectural plans into highly interactive viewing experiences, empowering developers to engage buyers and sell more properties off plan from as soon as planning permission being granted. A complete digital marketing solution revvis offers developers CGI’s, fly-through videos, data analytics and unrivalled 3d viewing experiences.
Their interactive virtual tours empower developers to connect with buyers anywhere in the world with our easily accessible HD streaming platform which can be embedded on any website and accessed with any device.
Unlike traditional CGI’s revvis enables buyers to freely explore all corners of any property creating a personalised viewing experiences months before physical viewings are possible.
Case Studies
Take a look at our Case Studies section to see the wide range of funding examples we have secured for our clients.
Our Services
Our experienced team of brokers can assist with many different funding facilities. Take a look through our services section.