For a development loan we lend a percentage of the land value on day 1 (which is expressed as a percentage of land value within the Loan Particulars narrative) and then lend towards the development costs to build/ convert the new/converted property/ies. The total borrowing at any given time is expressed as a percentage of the eventual end value (the Gross Development Value) and this percentage will increase as the build progresses and further development tranches are drawn with a maximum loan to Gross Development Value ratio of no more than 70%.
*Note, when an additional tranche is launched in the Pipeline, the remaining term will show 0 days. However, please note the actual remaining term will be shown under the original loan in the Live Loans section of our website.