We are regularly asked, ‘Is development funding available in Northern Ireland?’. We are seeing a substantial uplift in enquiries from builders and developers seeking funding for their development projects.
The LCF team have years of property development funding experience which has added value to our clients who are building out sites all over Northern Ireland with funding that we have arranged with our panel of established mainstream bank and alternative funders.
We take time to understand our clients, their business and their projects then come up with funding options. Typically, where the client owns the site we can arrange 100% of build cost, interest and fees with no requirement for a cash contribution towards build cost from our client. Often some funding towards the site can be arranged or, where our client already owns the land, we can arrange some cash out against the site in addition to 100% construction funding. This cash out can be used to fund new sites/development projects enabling our clients to grow at a faster rate.
LCF recently secured a funding package of £2.8m from Assetz Capital for our client MAM Group to construct Coastal Links Apartments, a superb development of 21 apartments in the centre of Portrush.
Lenders
Whether mainstream bank or alternative funder our role in the drawdown process is the same. Our strong relationships with the various professionals that our funders use to deliver a funding package means that we can open dialogue with them from day 1 and continue to engage with them right through to the first drawdown and then as staged drawdowns are made as the project progresses to completion. Our work with MAM Group was a good example of how the various stakeholders in the process working well together led to funding being delivered for the exciting new Coastal Links Development.
If you need funding to progress a development project please get in touch. We would love to talk to you.