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How to secure development finance quickly and efficiently

How to secure development finance quickly and efficiently

In property development, time is often of the essence. Securing development finance quickly and efficiently can be the difference between securing a prime opportunity or missing out entirely. Here’s how to streamline the process and improve your chances of a fast, hassle-free application.

Be thoroughly prepared

Preparation is key to avoiding delays in the application process. Make sure you have all the necessary documents ready to go, such as:

  • A detailed development appraisal
  • Planning permission documents
  • A clear breakdown of costs (land, construction, professional fees, etc.)
  • Cash flow forecasts
  • Evidence of your track record in property development

Providing this information upfront shows you’re serious, organised, and have a solid plan in place, all of which inspire lender confidence.

Choose the right lender

Selecting the right lender for your project can save you valuable time. Look for lenders who specialise in development finance and understand your project type, whether it’s residential, PRS (private rented sector), or student accommodation.

Lenders such as Imperial Blue Finance offer streamlined processes and direct access to decision-makers, ensuring faster approvals and tailored solutions.

Present a strong business case

To speed up your application, ensure your business case is compelling and well-structured. Address the key concerns of any lender, such as:

  • Profit margins: Demonstrate that the project has a healthy profit on gross development value (GDV).
  • Exit strategy: Whether it’s selling completed units or refinancing, a clear exit plan reassures lenders of your ability to repay.
  • Developer experience: Highlight your relevant past projects to show you can deliver.

Communicate effectively

Time wasted on back-and-forth communication can slow things down significantly. Be responsive to your lender’s requests and clarify anything they may find unclear. Proactive communication can keep the process moving smoothly.

Consider pre-approved facilities

Some lenders offer pre-approved finance facilities for experienced developers. Having pre-approval in place means you can act quickly when a new opportunity arises, eliminating the need for lengthy evaluations on every project.

Leverage relationships

Building relationships with lenders, brokers, or private financiers can pay off when time is short. Established trust allows for faster decision-making and better terms.

Work with experts

Engaging an experienced broker or finance adviser can simplify the process. They can help you prepare your application, approach the right lenders, and negotiate favourable terms.

Final thoughts

Speed and efficiency in securing development finance come down to preparation, selecting the right lender, and maintaining clear communication. By following these steps and partnering with experienced providers such as Imperial Blue Finance, you can ensure you’re ready to seize opportunities as they arise, keeping your projects on track and profitable.