Hello,
We are looking at building some units and have heard of getting "Tentative On Completion" valuations in order to borrow against the completed value of the development, rather than just borrowing a percentage of the building costs.
Developer Martin Ayles mentions this type of finance in his course and on his website, but we have not found a broker that has seemed to offer it.
Does anyone know the process of how to do this, which lenders would accept a Tentative On Completion valuation, and what percentages can be borrowed at what rates?
We are looking at building some units and have heard of getting "Tentative On Completion" valuations in order to borrow against the completed value of the development, rather than just borrowing a percentage of the building costs.
Developer Martin Ayles mentions this type of finance in his course and on his website, but we have not found a broker that has seemed to offer it.
Does anyone know the process of how to do this, which lenders would accept a Tentative On Completion valuation, and what percentages can be borrowed at what rates?