Oftentimes, people approach us with the question of how they can find the perfect development finance broker for their specific needs. Here at PFN Finance, we believe in educating our clients as well as helping them with their financial needs. This is why we’ve put together this blog to explain to you how you can go about finding the perfect development finance broker for you.
When it comes to lending criteria, development finance is fairly complex and vast. Lots of brokers lack the experience they need in this field, but to your luck, our brokers are full of knowledge and experience. We have access to help you tap into this market well.
So, read on to learn more about how you can find the right development finance broker.
Why Do I Need A Development Finance Broker?
It’s important to seek the help of a development finance broker if you’re looking into development finance. Specialists in the field will be able to advise and guide you properly. Development finance is a vast field of finance, and some brokers don’t have much experience here. So, using a broker that isn’t fully aware of the nuances of development finance could lead to you missing out on favorable deals from lenders.
Development finance brokers usually help with these loans on a case-by-case basis. They’re able to match your specific needs to the right lender, to make sure both parties are satisfied at the end of the day. The development finance brokers on our team at PFN Finance know exactly how to match the right lender to the right client. They’ll be able to help you get a good position for your loan as well as give you table-topping deals that are unbeatable.
Are There Different Types Of Development Finance Brokers?
Just like with any other field in any other industry, development finance brokers can be classified under different types according to specifics. The two main types of development finance are Residential Finance Brokers and Commercial Finance Brokers. Though there are many more classifications, we’ll focus on the two main ones as they are the most sought-after. Here’s a brief explanation for each:
– Residential Finance Brokers: As the name suggests, residential finance brokers deal with loans for residential purposes. If you’re looking to take on a loan for any type of residential property, a residential finance broker can help you out.
– Commercial Finance Brokers: Commercial finance brokers are ideal for you if you’re looking to gain funds for business properties such as factories, retail units, and even leisure ventures.
Can I Find A Development Finance Broker Anywhere in the UK?
Development finance brokers are common all over the UK. But, it’s much easier to find one closer to the mainland. It’s more difficult to find development finance brokers in places like Northern Ireland and some parts of Scotland. This is owing to the fact that lenders don’t tend to offer capital on projects taking place away from England and Wales.
Suppose you’re looking for a development finance broker in London, you’ll definitely have a larger pool of options to choose from compared to say, rural Ireland. This isn’t to say it isn’t impossible, of course. Drop us a message/enquiry and we’ll be able to help .
What Fees Do Development Finance Brokers Charge?
Development finance brokers often have broker fees to deal with. Alongside this, there’s the matter of interest, valuation, arrangement, and other costs. Most development finance brokers will charge a small fee for arranging a loan, which will usually add up to a small percentage of the loan. The standard rate here is around 1%.
Apart from this, some development finance brokers tend to charge an upfront fee. This is completely normal and fair as it takes a lot of time and effort to just arrange the right development finance deal, and even ensure the fee is refundable if they are unable to secure the finance for you.However here at PFN Finance we only charge on success.
The best part about our development finance brokers is the fact that they make sure you aren’t snapped with hidden charges, as they will always flag up an overall cost to you, so you’re clear on it from day one.
Conclusion
Now that you know more about development finance brokers and what to look for, we’d love to help you out in any way we can. So if you’re looking for residential and even commercial finance, we’ve got you covered. Contact us to learn more about how we can help you.
