Planning a property renovation can be so great fun and hard work at the same time. Thinking of the things you'd like to change about the property's layout or making a dingy room something beautiful and enjoyable can be very rewarding. Property renovations can be a big job, though, and plenty of people have great ideas but lots of questions about what they should and shouldn't do. These are some of the most common questions that come up often and the best answers about property renovation projects.
Bridging finance is effectively a short-term loan, normally taken for a period of up to 12 months which can be used for a number of purposes from consolidating debts, purchasing new property or undertaking an office refurbishment. Property developers often turn to bridging finance as a short-term solution that will allow property refurbishment or builds to commence even if the initial injection of cash is not present. Whether you are a small property developer working on just 1 or 2 properties a year or an established property development company with many schemes, property development finance is available to you.
The first thing to consider when dealing with development finance UK is the type of funding you need. There is a difference between refurbishment loans and property development finance. Basically residential development finance and commercial development finance is used to build residential and commercial property respectively, or to carry out large scale renovations to existing property.