Masthaven can provide property development loans for home extensions, single or multiple house plots, small office developments, small residential developments, shop/flat conversions and barn conversions. In fact we will consider most types of residential development projects.
When we are satisfied with the property development plan we will discuss with you how the project is to be undertaken, for example, using a building contractor under the supervision of an architect or with the necessary insurance - NHBC or Zurich. In some cases, once the development is under way we can finance the development costs by stage payments in arrears, according to our surveyor's valuation of the project on a periodic basis.
Where we differ from other bridging lenders and the major clearing banks, is that we can offer personal attention and assistance at all times - through both the funding stage and the development process, to enable the building work to be completed within the specified time-frame. The major banks will not generally agree to loans for these smaller projects and will only entertain lending proposals on finished developments, at which point they will be more receptive to providing long term commercial loans to enable the developer to repay the bridging loan.
As you will be speaking to the actual decision makers here at Masthaven, you will receive a swift answer to your queries and a decision regarding your property development loan. We therefore have an advantage over the High Street banks in terms of giving you a quick decision and being able to finance projects which could not secure bank funding. At Masthaven we will strive to find you a funding solution for your property development loan requirements.