Ian Thomas

LendInvest launches pre-construction finance offering

LendInvest has launched a new pre-construction finance product designed to support property investors while they apply for or await planning permission.

Pre-construction borrowers who wish to apply for development finance with LendInvest after securing planning permission will also have their applications fast-tracked when agreed.

Key features of LendInvest’s pre-construction finance product:

•    Interest is charged at 1-1.5% per calendar month
•    No exit fees
•    Available on loans between £75,000 and £5m
•    Available on terms up to 18 months
•    A maximum LTV of 70% applies.

Ian Thomas, chief investment officer at LendInvest (pictured above), said: “There can be many hurdles when it comes to acquiring planning permission, so it will be a comfort for borrowers to know that they can rely on a finance product specially designed for what can be an uncertain time in the full development project.

“With pre-construction finance loans lasting up to 18 months, our borrowers will have enough time to deal with whatever issues they might come across without a ticking clock behind them.”

The announcement marks LendInvest’s second product launch of 2017, following the rollout of a new refurbishment finance offering in February.

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