Bradford construction financing loans and mortgages are available for a wide assortment of residential and commercial construction projects through our lender sources.
We provide construction loans to a very broad array of customer types as well ranging from property owners and home owners working on a self build project to professional builders and developers working on larger projects.
For self build projects, construction mortgage financing either comes from a bank or institutional lending source that requires that both the construction loan and the take out mortgage are approved for the borrower prior to commencement of construction, through their institution.
The other alternative is construction private mortgage financing where there typically there is not a requirement that the long term mortgage or construction take out loan is in place when construction commences. In this scenario, borrowers have more time before and during construction to locate and secure the best long term mortgage deal available to them on the market at a given point in time.
For larger scale commercial and residential project, construction financing tends to be broken down more into phases for different applications in the project. For instance, its not uncommon for a project to first require funds for land acquisition, followed by site development, and then the actual building construction. At each stage of the process, the funding required may come from a different debt financing or equity investor source.
In order to be sure that you can address whatever construction financing needs that may present themselves with your project, it makes good sense to work with a construction mortgage broker who has lots of experience working through the challenges that can occur when managing the cash flow of a construction job and who has access to both bank and private lenders so that you always have ready access to the type of construction loan that best fits your requirements.
As an example, you could have an institutional construction loan facility in place, but now require additional funding for a cost overrun or an expansion in scope. A short term construction bridge loan from a private mortgage lender that can quickly be put into place is probably the best solution.
If need Bradford construction financing for a project your planning or are in the middle of, I suggest you give me a call so I can quickly assess your requirements and provide relevant construction loan options for your consideration.