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Finance Help

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  • Finance Help

    I have been involved in construction for over 15 years working up to Contracts Manager level and so I have a full understanding of how all the processes of new build and refurbishement work. I am now at the stage where I would like to work for myself as a Property Developer. My Business Plan allows for refurbishing properties and selling for profit to then moving on to new builds. My problem is sourcing finance to get started. I do not currently have any capital to offer. Does anyone know of anywhere/one that would offer finance under this circumstance?

  • #2
    Re: Finance Help

    As you have no deposit funds available, to get as much £ towards the purchase and refurb costs you could look at bridging loans but you’ll still need at least 30% deposit towards the initial purchase.

    You could look at a JV (Joint Venture) whereby an investor provides the capital for the deposit and possibly the works in return for a guaranteed return on their investment – although if you have no experience doing this type of thing outside of your previous employment you may struggle to attract an investor willing to take the risk.

    Your other option is speaking to your bank for a loan (or any other bank for that matter) if you’re looking to start a new business.

    Hope this helps!
    Ascot Mortgages
    www.ascotmortgages.co.uk

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