30 FINANCE & INSURANCE


LENDERS WILL LOOK FOR HOUSEBUILDERS WITH A PROVEN TRACK RECORD, DEMONSTRATING THEIR ABILITY TO DELIVER SCHEMES OF SIMILAR NATURE


proceeding with the development finance for a project.


RESOURCED TO DELIVER Due to land trading being at a premium, cost of materials being on the rise and a shortage of qualified labour, developers will have to ensure efficiency and deliverability is a key consideration. Lenders will be looking for evidence that borrowers are not under-resourced to deliver the scheme, and that taking on another scheme won’t stretch them too far. To that end, details of the method of


procurement and the proposed profes- sional team project appraisal should be included in your project summary.


PERSONAL TOUCH Last, but most certainly not least, many lenders will want to meet their borrowers, and preferably on site. This way they can really picture the proposed development as well as survey the area, to make sure the reality backs up the figures and detail proposed. Despite this extraordinary year we


have been through, and the many challenges that Covid-19 has presented, the development finance industry is still very much open for business, and house- building is set for further growth in 2021.


Simon Chapman is lending director at Pluto Finance


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