Looking to raise funds to Buy or Refinance Land?
We understand that getting the right funding to acquire of refinance a development site or land can be tricky at the best of times and it can be very time consuming as there are not too many lenders in the market for this type of finance. What is just as important as identifying the right funding is that it is the right one for your circumstances. At MCB Commercial Finance we believe that building a bespoke funding proposition to suit your needs is the key to having a satisfied client.
If you have the right funding in place then we believe this will give you the best possible chance to develop your site. We pride ourselves on putting together the right deal for our clients and selecting the right lender in the market place. With our vast experience of the market and the wide range of funding providers who are active in land and site finance we are well placed to ensure we get the right package for you.
Funding criteria and ability
At MCB Commercial Finance we fully appreciate that you want to get the best possible finance solution for your business with no additional hassle and that is where we can assist. With our panel of lenders we ensure you get the funding you need to purchase or refinance the land you want.
There are a wide variety of different deals with various lenders depending on your requirements and here are a few points to take into consideration:
- Planning consent may not be required ( once planning is approved we can assist with refinancing for any planning gain achieved)
- First charge, second charge, equity or joint ventures
- Funding from as little as £50,000 with no maximum limit
- Normally, 75% of open market value
- Up to 100% of purchase price if it is a purchase at undervalue but the loan must not exceed 70% of the open market value of the site
- Terms from 1 month to 5 years
- If you are looking to develop the site then we can assist with the onward development finance
- Interest can be rolled up , retained or serviced monthly
- Adverse credit can be accepted (non-status)
- Funding may be available for brownfield sites, green belt land, commercial and residential plots of all natures
To discuss your financial requirements please contact us on (01603) 864760.