Funding 365 launches into ground-up development finance

Funding 365 has expanded into ground-up property development finance with a product aiming to deliver loans from £250,000 to £1.5m for residential projects across England and Wales.

The offering’s fixed interest rates start from 0.84% per month (circa 10% per annum) with a 1% exit fee and up to 75% LTV, 65% LTGDV and 85% LTC.

The new product is designed to fund small ground-up and part completed projects of up to 15 units for up to 18 months.

First-time developers and most residential schemes — including HMOs and holiday lets — will be considered.

Mike Strange, director at Funding 365 (pictured above), said: “Service is paramount in development finance, so we are looking forward to bringing our speed and personal approach to the ground-up market.

“Having conducted a trial of this product in order to refine it, we are confident that it will help to deliver success for developers.”


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