Property Development Finance
Loans for property developers wanting to kick-start or complete their developments.
Property bridging finance for property developers needing additional or temporary funding to accelerate projects.
Development approved and good pre-sales achieved? Apply for property developer finance.
Property development finance is a loan product geared towards developers requiring funding to kick-start their development project, start construction or complete developments.
Funding of approximately R6 million can be granted per development, depending on the commercial viability and whether the developer has met the lenders conditions detailed below.
CONDITIONS
- Pre-sales in place (sale agreements concluded in respect of development units available, and be supported by finance deposits or bond grants)
- Development loan secured
- Adequate security
- Developer to have track record of at least two(2) successful developments;
- First mortgage bond over development property will be needed
- Value of immovable property tendered as security (as determined by sworn independent valuation), to equal or exceed 125% of total aggregate encumbrances;
- Applicants to demonstrate feasibility and demand for development;
- All required rights, permissions and zoning for development, to be obtained and in place and/or status thereof;
- Payout on registration date of first bond over development property.
DOCUMENTATION CHECKLIST
Valuation
Proof of Sales (pre-sales)
Rights To Develop (approvals)
THE BELOW FORM APPLIES TO THE ABOVE PRODUCT ONLY. PLEASE ONLY SUBMIT THE FORM ONCE AND CHECK YOUR INBOX FOR A CONFIRMATION EMAIL.