Development Finance Brokers

What is a Development Finance Broker:

A development finance broker is a financial professional who is specialised in providing advice to property developers on property development finance. Development finance brokers are specialised in development finance which can be differentiated from traditional mortgage finance in a number of ways. It is important to make this distinction as the lenders and products differ across different types of property finance. One of the main differentiating factors is the fact that development finance is usually over shorter terms, which are dependent on the construction timeline of the project. Development finance brokers are useful to developers as they have the necessary industry knowledge and experience to advise their clients on the available development finance products. Development finance can be complex due to the nature of property development, and so it is important to have an experienced broker on your side.

What Does a Development Finance Broker Do?

A development finance broker assists their clients, usually developers, through the application process of a development finance loan.

Lender Network: Brokers are able to leverage on their network of banks, private lenders and other financial institutions in order to find the best development lender for their client. Brokers have well established relationships with a number of lenders ensuring smooth communication between the lender and the client.
Development Knowledge: Development finance brokers will use their experience to evaluate the development project documents, from appraisals to planning documents. The broker will then identify an appropriate facility based on the metrics of the project (GDV, total cost, term etc).
Guidance: Brokers will act as an intermediary between the lenders and their clients. Their primary goal here is to ensure that the application process goes as smoothly as possible. Throughout this process the broker will provide their client with the expert guidance and advice to ensure that they are in a position to make well-informed decisions.

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Types of Development Funding:

There are a number of different type of property development, each with their own type of funding:

Ground-Up Developments: Ground-up developments are where the developer starts with a vacant/clear site and constructions a building from the ground-up.
Renovations & Refurbishments: This is where a developer uses a pre-existing building and carries out light construction to change its use or update its specifications.
Extension or Expansion: This is where developers expand a current development in order to increase its size or capacity.

Development finance brokers can offer an invaluable service to a property developer. Given the complexity of a property development it can help to have a skilled development broker on your side. Regardless of the type of development, development finance brokers can ensure that you get access to the right products from the right lenders.