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The application process is simple and fast. Simply complete our online enquiry form and we will respond with an Agreement in Principle or contact you to discuss your application in more detail as soon as possible.

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Development & Mezzanine Lending

Our business is growing fast. And none more so than in the area of Development and Mezzanine.

Our finely-tuned antennae are alert to every opportunity, and we're now providing funding to experienced developers with a proven track record in residential development. The following is a summary of our development offering:

Location:
Prime London only - defined as the following postcodes:
W1,  W2,  W4,  W6,  W8,  W9,  W14,
SW1,  SW3,  SW4,  SW6,  SW7,  SW8,  SW10,  SW11
SE1,  SE11
NW1,  NW3,  NW8
   
Security Residential/ Land with full residential planning.
Developments of residential houses or maximum of 14 flats
   
LTV 70% on a 1st charge
65% on a 2nd charge
   
GDV 65%
   
LTC Up to 80%. Costs to include Purchase Price and Development costs. Excluding professional fees.
   
Term Build period 6 months sales period
   
Profit on Cost Minimum of 25% for a build
Minimum of 15% for conversion/ refurbishment
   
Minimum Loan size £500,000
   
Interest Rate & FeesPriced on a deal by deal basis
   
Quantity Surveyor We will need a QS to represent us on all deals with the costs to be paid for by the borrower.
 

If a proposition meets the criteria above, we will require an application form and developers appraisal prior to arranging a site visit. If any QS reports are available this will also speed up the process.

If you would like to discuss a development proposition, please call us on 0800 294 6850.


 

 

 

 



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Member of the Association of Short Term Lenders (ASTL)         Patron of the National Association of Commercial Finance Brokers (NACFB)         Official Association of Bridging Professionals (AOBP)
Dragonfly Property Finance is the trading name of Bridgeco Ltd (Reg No 6629989), Fern Trading Ltd (Reg No 06447318) and Rednel Ltd (Reg No 7531926)
Registered Office: 20 Old Bailey London EC4M 7AN. Registered in England and Wales.
Rednel Ltd is authorised and regulated by the Financial Conduct Authority