Benefits of Land Bank Financing
The leap from the planning stage to the construction stage of a development project is not always a smooth one. If the project gets held up for any unforeseen reasons, this can cause major headaches for the developer, even before any work has commenced. This is where Land Bank Financing can provide a helping hand if you do not have access to the necessary reserves to cover expenses.
Several scenarios can lead to the project stalling before construction begins. Perhaps a pre-sale target has not been reached, or you have decided to further prepare the site like combine it with another lot, or perhaps you are yet acquire the necessary approval from your local authority. Land Bank Financing can help you get the ball rolling with the backing to secure the land and operate until construction begins.
To learn more about Land Bank Financing, get in touch with a member of our team today.
When to use Land Bank Financing?
Several situations could lead to the project stalling before construction begins, perhaps a pre-sale target has not been reached, in which case the developer needs more time to achieve the number of pre-sales necessary to get the ball rolling on construction.
Maybe you have decided to further prepare the site or to combine it with another lot, in which case you require additional funding to bring the site into line with your plans. Another scenario is when you have not yet acquired the necessary approval from your local authority and need financing to tide the project over until this can be achieved. This method of financing is designed precisely for these situations.
Land bank financing however, is not limited to these scenarios alone. If your construction project has been delayed before work has commenced, you could be eligible to benefit from one of our land bank solutions.
To discover more or to get the ball rolling on your application, get in touch with a member of our expert team today.