Can your scheme qualify?
Six quick questions give you a first view. Every case is underwritten on its own facts, so treat this as a starting point, not a decision.
Where is the scheme?
Are purchasers paying deposits on off-plan sales?
Planning?
Will the homes carry a new-home warranty or structural cover?
Can the developing company show recent accounts?
How many schemes has the team completed?
What underwriters look at
Location
England, Wales, Scotland, N.Ireland and the Channel Islands.
Planning
Firm terms usually follow consent. Indicative terms can be given earlier.
Sales and deposits
How many units are reserved or exchanged, the deposit taken on each and the total expected.
Construction progress
Where the build is against programme, and the cost to complete.
Warranty
New-home warranty or structural cover from one of the reputable providers.
Financial strength
Net assets above all. Recent accounts, bank facilities and any insolvency or CCJ history.
Track record
Completed schemes help. First schemes are considered and lean more on the balance sheet.
Land and funding
Who owns the site, the senior lender and the facility in place.
Security
A personal guarantee is normal and a counter-indemnity is often preferred. Other security is case by case.
There is no minimum scheme size.