Property Finance

Property finance is a catch-all term used to describe finance to fund the development or renovation of property.
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What is Property Finance?

Property finance is a catch-all term used to describe finance to fund the development or renovation of property. This form of funding can be used on residential, commercial, and mix-used properties and enables both investors and homeowners to make the changes they need.

Property finance covers a wide range of products that can be used for different purposes. Not all property finance is equal. You’ll have to understand what you need before you apply. Depending on whether you’re building from the ground up or refurbishing a buy-to-let, there will be different requirements and qualifications before you can receive funding.

Discover the Different Types of Property Finance

There is a wide range of property finance available all with different purposes and requirements. However, property finance is actually very straightforward once you know what you need. Here are a number of property funding products we can offer at Aurora Capital.

Bridging
Loans

Funding that allows you to
bridge a gap between now and
a future influx of cash, by
securing on a residential property.

  • Lend up to 75% LTV
  • Terms up to 2 years
  • Adverse credit considered

Development
Finance

Funding that allows property developers to borrow up to £5m to finance their upcoming refurbishment or build projects.

 

  • Lend up to 65% LTGDV
  • Terms up to 2 years
  • England, Wales and Scotland

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obligation quote today!

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Bridging Loans


Funding that allows you to bridge a gap between now and a future influx of cash, by securing on a residential property.

  • Lend up to 75% LTV
  • Terms up to 2 years
  • Adverse credit considered

Development Finance


Funding that allows property developers to borrow up to £5m to finance their upcoming refurbishment or build projects.

  • Lend up to 65% LTGDV
  • Terms up to 2 years
  • England, Wales and Scotland

What are the Different Types of Property Finance?

Property Development Finance

Property development finance is the perfect product if you’re looking to perform medium to large renovations on a property. Development finance can be used to renovate a recent purchase or to develop an entire plot of land. If you’re after a flexible solution that enables you to get started on your project now, this is the finance you’ll need.

Here at Aurora, you can look to borrow between £25,000 to £10 million towards the refurbishment or renovation of property of your choice. Better yet, with property finance, the interest rates are as low as 0.75%. Allowing investors to take out funding without the worry of expensive repayments.

Simply submit your application and we’ll put it forward to a range of lenders. In the next few days, they’ll get back to you with an offer in principle, allowing you to calculate renovation costs with ease.

Bridging Finance

Bridging finance is a short-term funding product used on properties which need refurbishment and development. They are used instead of a mortgage as the project in question shouldn’t span over too many years or cost too much.

Bridging is sometimes used where an investor has bought a property that needs a bit of fixing, either to make it habitable for a tenant or to increase the value and sell it off at a later date. The bridging loan’s term will end once it’s either paid back or the borrower secures long-term funding, such as a residential or commercial mortgage.

The criteria which determines whether a bridging loan is appropriate is the size of the project. If the funding you need is substantially large or your project spans longer than 18 months, development finance might be the better funding product to go with.

Get your free, no obligation quote today!

Prefer to talk? Call us on 020 3355 7462

Property Finance: FAQs

How Much Funding Can You Get From Property Finance?

The amount you can get in property funding is determined by the type of finance you require and how much risk the lender is taking on. In most cases, you could receive up to 70% – 80% of the value of the whole property. 

The amount of money you’ll need will be determined by what you’re doing. If you’re building from the ground-up, you’ll need a lot of raised funding to get the project finished. If you’re doing a few light refurbishments, you may only need a few thousand pounds.

Can you get Property Funding if you’re new to property?

Yes, you certainly can. Many new property investors or homeowners look to finance the first time they take the plunge into property. What you get all depends on your requirements and the conditions set by the lender.

If you’ve never bought a property before, getting property finance will be difficult as there will be more risk on the lender’s side. It’s important to make sure your credit score is up to scratch so lenders can see you’re a credible borrower who can pay the money back without any problems.

What is the Difference Between a Commercial Mortgage and a Buy-to-Let Mortgage?

For the novice property investor, at first it looks as if commercial mortgages and buy-to-let mortgages are the same thing. However, the two differ slightly and shouldn’t be used interchangeably.

Commercial mortgages are for business who intend to use the space for their own use, such as an office, warehouse or factory. You can normally borrow slightly more through a commercial mortgage than a B2L as well.

Buy-to-let mortgages are normally used to finance one property with the intention to let the property to a tenant. They aren’t used to fund huge portfolios and are a little more restrictive with what you can do with them.

We cover a multitude of finance options.

Aurora Capital is here to help. Navigate our range of solutions to find out more.

We cover a multitude of finance options.

Aurora Capital is here to help. Navigate our range of solutions to find out more.

Why choose Aurora Capital?

As funding specialists, we provide SME’s with business loans that are suited directly to their needs. As independent financial brokers, we have built up relationships with multiple lenders who can provide fast and flexible funding. This means we can offer a wide array of businesses with numerous benefits and competitive rates.

Finding the right funding is often a long-winded process, with plenty of variables to consider from all the different providers. Our finance experts can help, providing you with a list of the best deals and rates. Why not give us a call and talk through the different business funding options available.

Speak to us and find out how much your business qualifies for

020 3355 7462

info@auroracapital.co.uk

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