Things to consider
You might be a property developer who is looking to convert a large disused barn into a luxurious country home, or you might be a homeowner who wants to turn a dusty attic into a show stopping master bedroom. Whatever your vision is, a skilled contractor can bring it off paper and into reality.
Of course, in order for your conversion project to run smoothly from the outset and finish on schedule, you need easy and reliable access to fast finance. Unfortunately, banks, building societies and P2P lenders are often unable to provide quick turnarounds, and in some cases they are simply unwilling to lend.
However, if you find yourself in this position, there are alternative funding options that you can explore – and this is where we can help you.
Conversion Projects We Can Help to Fund
- Barns and farm buildings
- Period Homes
- Commercial-to-residential via permitted development rights (shops, offices, etc.)
And many more.
How Does an Affirmative Loan Differ from a High-Street Loan?
Our development loans are as safe and secure as loans from banks and building societies. The main difference between what they offer and what we offer is the speed of our service: we can have your loan arranged within a matters of days (24 hours if necessary), from application right through to the transfer of funds.
We work at these speeds because we know how fast-paced and unpredictable the world of property development can be. Unforeseen issues and circumstances arise all the time, disrupting plans and prematurely consuming budgets. When these problems arise, you need fast finance to make up the difference and keep the project going.
When you take out a development loan with us, it will be secured against a property that you already own or a property you are purchasing. 100% of purchase price and conversion costs are available with requisite security.
Helping You Get Your Conversion Project Completed
Of course, even with reliable and accessible finance from the outset, conversions can take time to complete. In order to minimise complications and avoid obstacles, you need to plan scrupulously but also leave some room to tweak those plans once the project gets underway.
You should consider each separate procedure when calculating the overall budget for your project. For example, you may be required to seek planning permission from your local council and notify your neighbours, as well as purchase the property or land itself if you are not the owner already.
You will also need to factor in the costs of sourcing materials and the various fees for tradesmen, contractors, and architects.
Due to the nature of most conversions, it is sensible to allow a contingency fund for any unforeseen costs that may arise due to issues such as upgrading electricity, gas or water supplies, and the safety of the structure.
We can talk you through the planning process to ensure that you avoid as many of the potential obstacles as possible. If you are just about to start planning a conversion, you can use our development profit calculator to get a clear idea of how viable the project will be.