Being a property developer, landlord or investor, you must always be looking for a good property development finance to fund your projects. In this blog, we are discussing top four types of property development finance solutions that you can go for. (While choosing a solution do keep your project’s needs and your terms & conditions in check).
Commercial mortgages
Commercial mortgages score brownie points when you need to purchase any commercial property – shops, offices, warehouses and other such property that is not counted as a commercial one. This type of financing solution works the same way as private mortgages, enabling you to spread the cost of a large purchase over the time.
Commercial mortgages are mainly applied by existing businesses who want to buy their own premises, where the business runs from.
For example, a physician can spend a small fortune on rent, but can’t afford to pay outright for the building he has clinic in. It is sometimes possible to secure 100% finance through additional security.
You can approach an alternative lender like Global Capital Commercial to get to know more about commercial mortgages.
Bridging finance or development finance
The next type of funding solution available is bridging or development finance. This refers to any short-term funding that helps you cover building and development costs. The bridging finance is determined on how ‘heavy’ your project would be.
Auction finance
Auction is undoubtedly a quick and simple way to get a property at an affordable price. There are some alternative lenders specialized in auction finance. You can seek an urgent fund from such lenders, as once you have made the winning bid, you are required to pay the amount within 28 days (depending upon the determined terms and conditions for the property being auctioned).
An alternative lender, like Global Capital Commercial, helps you secure the amount in a seamless manner even within a week.
Commercial mortgages
Commercial mortgages score brownie points when you need to purchase any commercial property – shops, offices, warehouses and other such property that is not counted as a commercial one. This type of financing solution works the same way as private mortgages, enabling you to spread the cost of a large purchase over the time.
Commercial mortgages are mainly applied by existing businesses who want to buy their own premises, where the business runs from.
For example, a physician can spend a small fortune on rent, but can’t afford to pay outright for the building he has clinic in. It is sometimes possible to secure 100% finance through additional security.
You can approach an alternative lender like Global Capital Commercial to get to know more about commercial mortgages.
Bridging finance or development finance
The next type of funding solution available is bridging or development finance. This refers to any short-term funding that helps you cover building and development costs. The bridging finance is determined on how ‘heavy’ your project would be.
Auction finance
Auction is undoubtedly a quick and simple way to get a property at an affordable price. There are some alternative lenders specialized in auction finance. You can seek an urgent fund from such lenders, as once you have made the winning bid, you are required to pay the amount within 28 days (depending upon the determined terms and conditions for the property being auctioned).
An alternative lender, like Global Capital Commercial, helps you secure the amount in a seamless manner even within a week.
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