Question 1

How much development finance can I get in Haringey?

Accepted Answer

Development finance in Haringey typically ranges from £150,000 to £25 million, depending on your project. Most lenders offer up to 70% of total project costs (Loan to Cost) and up to 65% of the Gross Development Value. For a typical Haringey residential scheme, you might borrow £500K to £5M. We can often push leverage higher by combining senior debt with mezzanine finance, reaching up to 90% of costs.

Question 2

What are current development finance rates in Haringey?

Accepted Answer

Development finance rates currently start from 0.65% per month (approximately 7.8% annually) for straightforward residential schemes in Haringey. Rates depend on several factors including your experience, the loan-to-cost ratio, planning status, and the project's risk profile. More complex schemes or higher leverage may attract rates of 0.85-1.2% per month. We compare rates across our panel of 50+ lenders to find the most competitive terms for your specific project.

Question 3

How quickly can I get development finance for a Haringey project?

Accepted Answer

We can provide indicative terms within 24 hours of receiving your project details. A full credit-backed offer typically takes 5-10 working days, and completion (drawdown of the first tranche) can happen within 2-4 weeks of application. For urgent acquisitions, we can sometimes arrange bridging finance to secure the site within 7-10 days while the full development facility is being finalised.

Question 4

What deposit do I need for development finance?

Accepted Answer

With senior debt alone, you'll typically need 30-40% of total project costs as equity (deposit plus working capital). This can be reduced to as little as 10-15% by using mezzanine finance alongside senior debt. For well-located Haringey projects with strong GDV and experienced developers, some lenders offer stretched senior facilities that reduce the equity requirement to 20-25%.

Question 5

Can first-time developers get development finance?

Accepted Answer

Yes, first-time developers can access development finance in Haringey, though options are more limited than for experienced developers. Some lenders specialise in first-time developer lending, often requiring a detailed build programme, a qualified project manager or monitoring surveyor, and a conservative loan-to-cost ratio. We've helped numerous first-time developers secure funding for projects across Haringey, from small conversions to larger schemes.

Question 6

What types of projects can be funded in Haringey?

Accepted Answer

We arrange development finance for virtually all types of property development projects in Haringey, including: ground-up residential new builds, commercial-to-residential conversions (including permitted development), period property conversions and subdivisions, refurbishment and modernisation projects, mixed-use developments with residential and commercial elements, build-to-rent schemes, and affordable housing developments. The key requirements are a viable scheme with planning consent (or a strong planning prospect) and a clear exit strategy.

Question 7

How does the drawdown process work?

Accepted Answer

Development finance is drawn down in stages rather than as a single lump sum. Typically, the initial drawdown covers the site purchase (or refinance of an existing purchase), with subsequent drawdowns released as construction progresses. A monitoring surveyor (Quantity Surveyor) appointed by the lender will inspect the works and certify each stage before the next drawdown is released. This staged approach protects both the lender and the developer.

Question 8

What are the typical fees for development finance?

Accepted Answer

Typical fees for development finance include: Arrangement fee of 1-2% of the gross facility, Valuation fee for initial and monitoring valuations, Legal fees for both your and the lender's solicitors, Monitoring surveyor fees for stage inspections, and an Exit fee of 0-1% on some facilities. We provide a full cost breakdown upfront so there are no surprises. Our brokerage fee is typically 1% of the facility, only payable on successful completion.

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Example Haringey Development Finance Scenarios

Residential New Build, Tottenham N17

Period Conversion, Crouch End N8

Mixed-Use Development, Wood Green N22

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Development Finance Across Haringey

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