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Development Finance

Property development finance can provide short-term funding for either more extensive new construction projects or large renovations, helping developers to free up their personal capital for other projects or unforeseen expenses.

Loans cover both land purchase and building costs. Loan amounts are based on a percentage of the gross development value at the end of the work. Usually development loans are drawn in stages (referred to a “tranches”), part of the loan will be drawn to acquire the land, and subsequent funds drawn for the development.

The reporting criteria to the Lender is usually very strict in Development Finance to ensure that the property is being developed in accordance with a plan approved buy the Lender. There will virtually always be “step-in” rights allowing the Lender to complete any development work to ensure that their security is always protected.

Development finance is amongst the more complex property finance products and there is typically more room for negotiation with the lender on the terms of the loan documentation. It is therefore critical that you have the right lawyer in your corner who can really add value by improving the terms of the loan for you.

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Property Finance Fixed Fees

By way of indication fees for the following forms of property finance start from:

  • Bridging Finance – From £899 plus VAT
  • Company Buy to Let Finance – From £749 plus VAT
  • Commercial Mortgage Finance – From £1099 plus VAT
  • Development Finance – From £3499 plus VAT
  • Second Charges Mortgages – From £749 plus VAT

If the matter does not proceed to completion then half of the above fee will be due.

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In addition to the fixed fee above the following fees may also be payable:

  • Payable in all cases - Bank Transfer Fee (per transfer) - £40 plus VAT
  • Payable in all cases - Electronic Identification Fee (per person) - £10 plus VAT
  • Search Fees will vary from the type of finance but between £550 plus VAT and £1500 plus VAT

Included in the service

  • Ensuring the lender has good and marketable title.
  • Reporting to you on the security documentation.
  • Discharging any existing lending
  • Securing any new lending
  • Registration of the security at HM Land Registry
  • Registration of the security at Companies House
  • Completion of the remortgage

What is excluded from the service?

  • Legal advice outside the scope of the service described above
  • Tax advice
  • If the property is leasehold it does not include an additional  work ion connection with the review of the headlease.
  • Any property transfers needed for the property finance
  • Any company work outside of the finance that is required


Land Registry Fees are due and will be payable based upon the purchase price and using the following link.

If the buyer is a company taking lending then a Companies House fee will be payable of £23.

In all cases bankruptcy and final searches will be due of £25.

If the premises are leasehold then notice of the transfer of the premises will need to be served on the Landlord whose costs typically range from between £50 and £200. We will confirm he figure once it is known to us.

How long will it take?

Timescales vary and on average it will take 4 weeks but it depends upon a number of factors outside of our control. We will endeavour to complete the finance as quickly as possible within your timescales.

Who will do your work?

Your matter will be undertaken by one of our Property Finance Solicitors: Nick AttwellTanya WarnesMatthew Desborough or Joseph Harrison or our Trainee Solicitors under the supervision of Nick Attwell.

When will I pay?

You will need to pay 50% of the fixed fee on account together with the search fees. The balance of fees and disbursements will be due on completion.

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