LendInvest has launched a new pre-construction finance product targeted at property professionals looking to secure planning permission.
The pre-construction product is specially designed to support property investors in the primary stages of their development as they apply for and await planning permission. The loan has a term of up to 18 months, cushioning a process that can be unpredictable in duration.
Borrowers of pre-construction finance who wish to apply for development finance with LendInvest after gaining planning permission will have their applications fast-tracked when agreed.
Ian Thomas, Chief Investment Officer at LendInvest, said, “There can be many hurdles when it comes to acquiring planning permission, so it will be a comfort for borrowers to know that they can rely on a finance product specially designed for what can be an uncertain time in the full development project.
“With pre-construction finance loans lasting up to 18 months, our borrowers will have enough time to deal with whatever issues they might come across without a ticking clock behind them.”