Development finance in Peterborough
Development finance funds a build or conversion in Peterborough in stages rather than as one lump sum. A lender advances against land and then against monitored progress, and the facility is repaid on sale or refinance. CoreFi matches your scheme to lenders who fund in Peterborough. Terms depend on the scheme, the borrower's track record and the exit.
Development in Peterborough covers industrial and cold-store units around Fengate and Eastern Industry, city-centre conversions, and residential schemes on the townships to the west. Schemes here are usually modest in scale by national standards, which is an advantage: the lenders who write them are specialists who move faster than the clearing banks and are more comfortable with the numbers.
CoreFi is a commercial finance broker. We arrange commercial finance for Peterborough businesses, principally limited companies. We package the case, approach the lenders whose criteria fit, and manage it to drawdown. We do not lend our own money and we are not tied to any lender.
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Tell us what you need
Tell us about the site, the scheme, your costs and how you plan to exit. It costs nothing to start and there is no obligation.
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We match you with suitable lenders
We assess your situation against our whole-of-market panel and identify the lenders whose criteria actually fit, rather than applying everywhere and collecting declines.
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We package and submit
We prepare the case with the documents the lender will ask for and put it to the lenders most likely to fund it.
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Offer and drawdown
The lender issues terms and, on acceptance, releases the facility. We manage it through to completion.
How the facility is structured
Development finance is drawn in stages, not advanced in full. A lender typically funds a share of the land purchase, then releases construction funds against a monitoring surveyor's certification of work actually completed.
That structure protects the lender and disciplines the project, but it means you must fund the gap between doing the work and being reimbursed. Underestimating that gap is the most common reason otherwise sound small schemes run into trouble, and it is the first thing we stress-test with you.
What lenders assess
Three things dominate: the scheme's numbers, your track record, and the exit. Lenders look at gross development value against total cost, and want a margin that survives a softer market than the one you are pricing into.
Track record matters more than borrowers expect. A first-time developer can raise development finance, but on tighter terms and usually with an experienced contractor named. The exit needs to be specific: sale at a realistic price, or refinance onto a term product with a lender who has indicated they would take it on.
Costs beyond the interest rate
On development finance the rate is rarely the biggest number. Arrangement and exit fees, monitoring surveyor costs charged to you, and interest rolled up on drawn funds all compound over the build.
Build the true cost into your appraisal from the start, and stress it against a slower sale than you expect. A scheme that only works at full pace and full price is not a financeable scheme, and a lender will price that in even if the borrower has not.
Frequently asked questions
Do you cover all of Peterborough and the surrounding area?
Yes. We work with businesses across Peterborough and the surrounding area, including Fengate, Eastern Industry, Orton Southgate, Hampton and out into the Fens towards Wisbech and Spalding. The lenders we match you to will confirm whether they fund your specific sector, location and security.
Do you lend the money yourselves?
No. CoreFi is a commercial finance broker, not a lender. We arrange facilities with lenders on our panel and are paid a commission by the lender on completion. If we think a product is wrong for your situation we will say so.
Do I need planning permission first?
For a full development facility, generally yes. Some lenders will fund land with the benefit of an existing consent, and bridging can sometimes cover a site while permission is sought, but that is a different and more expensive product with more risk attached.
How much of the cost will a lender fund?
It varies by lender and scheme, and is assessed against both cost and end value rather than against one alone. You should expect to put in meaningful equity, and a lender that appears to require almost none is usually pricing that risk somewhere else in the deal.
What does it cost to use CoreFi?
There is no cost to start a conversation and no obligation. On most commercial products we are paid a commission by the lender on completion. Where a fee is payable by you, we tell you the amount in writing before you commit to anything.
Get matched with lenders for your Peterborough business
Tell us what your business needs and we will match you with lenders whose criteria fit. No obligation, no cost to start the conversation, and a straight answer about what is realistic for your situation.
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