Property Development Finance, Simplified - Comparison Tool

In the UK, consumers are well versed in evaluating finance products using comparison sites (MoneySuperMarket.com, Comparethemarket.com, GoCompare.com, Confused.com plus many smaller players) yet why isn't there a way to compare Finance Requirements for Property Development?

Well, there is now at SHEDyt Loans

The Old Ways (Emails & Calls):
Traditionally, securing property finance is a cumbersome and time-consuming process even with the advent of the internet. Property professionals would rely on emailing, phoning and sending Excel documents back then forth. While these methods of evaluating property deals have been the norm for many years, since the advent of the digital software, they come with significant drawbacks. Let's elaborate below on how it was done and how it can be done better.

1 - Emailing: A potential property project requiring finance, a developer would start with a process of communicating with multiple lenders, which can be inefficient, as some simply will not lend if it’s not a good fit for their lending criteria. Each email requires drafting, sending, waiting for responses, and often following up multiple times for more information. This can lead to delays and missed opportunities.

2 - Phoning: While phone calls can provide direct communication, they are not always convenient or provide information visually to review. They also need meetings to be organised, taking detailed notes, remembering specific terms and conditions, which can be challenging and prone to human error.

3 - Spreadsheets: Compiling and comparing loan options using tools such as Excel is a manual and labour-intensive process. It requires meticulous data entry and creating formulas, to generate the outputs such as GDV (Gross Development Values), LTV (Loan to Value). Moreover, offline documents can be numerous, can date, and being static in nature reduces the number of finance options available.

In summary, these traditional methods of evaluating property development finance options not only consume valuable time but also increase the risk of errors. This can result in Property Deals being lost, as others could be moving faster to complete on that site. These old methods have high admin costs and general lack of efficiency when securing loans for developments.

The New Way (Comparison Tool Form):

A Builder can now use the SHEDyt B2B Branded Property Finance Comparison Site, which has over 110+ finance organisations (At the time of writing) and are ready to lend on your site. This online tool streamlines the process of comparing property finance options and has numerous advantages outlined below:

A - Close More Deals: With a comprehensive comparison tool, businesses can quickly access a wide range of loan options from multiple lenders, whether Bridging, Commercial Mortgages or Development Finance. This increased visibility of options for home builders ensures finding the best deal and is tailored to their specific needs, ultimately securing more favourable terms.

B - Saving Time and Money: By automating the comparison process, the tool eliminates the need for time-consuming phone calls, and attaching Excel sheets to email; This comparison not only saves time but also reduces administrative costs. Businesses can allocate these saved resources towards more productive activities, such as closing deals and building sites concurrently.

C - Scaling Sooner: With quicker access to the best financing options, any property businesses can focus on their development and increase GDV, without worrying about if they achieved the best finance deal for a particular project. This streamlined process allows for faster decision-making, enabling companies to move quickly and secure sites for development.

For Home Builders looking to speed up their financing process, the SHEDyt Loan Comparison tool offers a one-stop shop, instead of having to complete multiple applications, with multiple 'potential' lenders and have shortlisted options on a single online view. As a launch offer, SHEDyt is currently (June 2024) offering £350 cashback after the form is completed and the property goes through legal to exchange.

Is it time for House Builders to say goodbye to the old ways of emailing, phoning, and managing Excel sheets when securing property finance? Is there anything else you’d like to see when uploading your future project for finance appraisal?Visit SHEDyt today and one of our team members will make contact once the form is completed. 

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