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Developer Diaries
Episode 5: Developer Diaries with Ben Wilson - Financing Development Deals
May 22, 2023
Ben is joined by Rick Hollingsworth, Senior Structured Finance Manager at Octane Capital. They discuss financing property development deals, including the benefits of being a cash buyer, challenges faced by first-time developers, bridging and development finance compared to traditional mortgages, the level of control in the unregulated finance market, understanding security and legal fees, and tips for new developers in financing deals.
01:22:47
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Quick takeaways
- Financing property development can be done through various options such as cash, joint ventures, or borrowing from family and friends.
- Bridging and development finance are priced based on loan-to-value ratio, creditworthiness, and project complexity.
Deep dives
Overview of the Property Market
The podcast episode begins with a discussion on the current state of the property market. The speaker mentions a slight slowdown in market activity and a softening of prices, particularly in the first-time buyer market. The speaker also highlights the return of 100% mortgages, which are seen as somewhat overhyped and limited in availability. The increase in interest rates is also mentioned, with the speaker noting that while rates have risen, they are still historically in a reasonable range.
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