What we do….
There are many different types of finance available, and we help guide our clients through the maze, to find their best outcome.
With over 30 years experience in Financial Services, and with an in-depth knowledge of all elements of the sector, we are uniquely placed to provide a personalised service to each of our clients – the days of ‘one size fits all’ are certainly gone as far as Nummus are concerned.
A development loan is a short-term funding option, usually for a term of between 6 and 24 months, and is designed to assist with the the costs involved with the purchase, and subsequent development, of a site. Generally, it is for residential property although we can source finance for commercial development also.
The funding can be used to support a full spectrum of works, from new build, conversion to refurbishment works, and can be for a single unit site through to a multiple unit site which is developed in phases.
There are two major types of Development Finance loans, and we have an in-depth knowledge of both, as well as close links with lenders who actively support both types.
Developer Exit Finance
These loans are specifically used to support developers who have completed most, or all, of the work on a site and are keen to move on to the next, while sales are achieved/completed on the final phase. Similar to a bridging loan, the loan is secured against the remaining properties and is for a pre-agreed period of time. Usually these loans are for a maximum term of 12 months.
A short-term finance option which “bridges” the financial gap between the purchase of one asset and the re-sale, and longer term finance of it. This is often used to allow developers to purchase a site quickly, while the finalise the planning on the site, or arrange for the longer term funding package to be put in place. They can be used for other purposes though and generally are for a term of between 6 and 24 months.
Term Loans/Commercial Loans
A term loan is usually for a specific amount and has a specified repayment schedule. Interest rates are normally fixed at the start although there are some loans where the interest rate can vary depending on Bank of England Base Rate moves, or other similar indices. This type of loan is often appropriate for an established business with financial statements readily available, and generally requires property in security of the loan.
Asset Finance is the name given to the various different ways a company can raise finance to purchase assets which will then be used by the company in it’s day to day operations. The company borrowing the funds must provide the lender with a security interest in the assets. We have arranged funding on a diverse selection of assets from pizza ovens, through full production site kit out to cars and even heavy machinery used by clients on their development sites.
No matter what lending product(s) are required, by working with Nummus our clients have access to a large panel of lenders, both mainstream and specialised, who actively support all types of lending. Lending can be for up to 15 years, or even more. We can also assist with lending which is very short term in nature.
“We have had a need to arrange lending for several of our businesses and asked John to help find the finance solutions numerous times. Each time, we have been presented with the options and together with John, have selected the option which worked best for us. Even now, Nummus are in the process of arranging a further lending facility for us and I am confident they will find the solution which works best for us.“