What is a property development loan?
A property developer loan is a type of finance used for a number of development projects, from light renovations to new building projects. Property development loans can vary in the amount borrowed, depending on what’s needed to cover the cost of work. Renovations may vary in scale, from aesthetic changes through to structural refurbishment such as incorporating new rooms and moving internal walls. Ground-up work can also be covered under the costs, which means starting with an empty plot of land.