Development Finance
Spread your capital further
Introduction
We lend more than banks, both against the gross development value and the total project costs; which allows our borrowers to spread their capital further and maximise their return on equity too. Leverage is available up to 70% LTGDV and we fund up to 90% LTC. Our development finance loans are available nationally and for a multitude of purposes, including: small to medium size house building, permitted development schemes, non owner-occupied refurbishments, mixed use developments and student accommodation.
Zorin vs. Bank Lending
Bank
Zorin
Rates
The following information is intended as a guideline only (regions may vary):
| Maximum LTV (1) | 70% |
| Interest Rate Per Annum (2) | from 6.95% plus SONIA |
| Maximum Loan Size | £75,000,000 |
| Minimum Loan Size | £5,000,000 |
| Maximum LTP | 80% |
| Maximum LTC | 90% |
| Arrangement fee (3) | 1% |
| Exit Fee | 1% |
| Maximum Term | 36 months |
| Interest Payable on Exit | yes |
| Interest Compounded | quarterly |
| Minimum Interest Payable (4) | case-by-case |
(1) Including interest and fees
(2) Interest charged on drawn funds only
(3) Rolled into loan
(4) On total loan amount
Criteria
- Open to individuals and corporates
- Residential & non-residential uses
- Planning gain considered towards borrower equity contribution
- No planning risk taken if land is the only security
- No bankruptcies, outstanding CCJs or poor credit
- Proven track record
- Subject to satisfactory due diligence
- Build costs drawn down in arrears against Q.S. sign-off
- Security by way of 1st ranking legal charge
- Limited PGs, company and share charges required if lending to corporates
Get in Touch
+44 (0)20 7650 1800
1 Knightsbridge Green
London
SW1X 7NE
info@zorinfinance.com