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sheet - 30sec earlier...

capitalising interest works for development (usually construction) finance, whereby there is enough fat in the deal to not have to sacrifice cashflow because while you build, there's no rent or sale coming in. admittedly, the bank wil usually want a presale or ten to cover their bum, but...

that's how i read it, but this thread quickly dissolved into hearsay so there wasn't much point squeaking amongst the noise.