Part-Completed Development Finance
Replace Existing Finance and Fund the Remaining Works.
Suitable for Developers with Projects Already Underway. Self-funded or existing loans in place.
Existing finance running out of time or money? We assess the outstanding debt, remaining works and funding shortfall, identify suitable lenders and negotiate a practical route towards completion.
The Right Development Finance
We identify specialist lenders prepared to consider existing developments, refinancing requirements and remaining construction costs.
Clear Comparison of Options
We assess redemption costs, new funding, remaining works and total borrowing costs to establish whether refinancing is viable.
Managed Through to Completion
Your broker negotiates with lenders and coordinates the professionals involved, helping resolve complex funding requirements.
Part-Completed Development Funding Capabilities
We work with specialist lenders experienced in refinancing existing development loans and funding projects through the remaining construction stages.
130+
Specialist Lenders
Refinance
existing debt
Works Funding
to complete your project
Staged Drawdowns
to reduce costs
Funding depends on current value, outstanding debt, remaining works, projected GDV, available equity and lender criteria. Existing loans and cost overruns may not be fully covered by a replacement facility.
What Does Part-Completed Development Finance Look Like?
Refinancing a development that’s already underway requires careful assessment of the existing debt, completed work, outstanding costs and expected end value.
Existing Debt & Borrowing
The new lender assesses the current facility, redemption amount, value of work completed and projected GDV. We calculate the borrowing needed to refinance and progress the development.
Loan term
The revised term must allow enough time to complete the outstanding works, obtain required certification and sell or refinance the finished properties. We consider realistic delays and contingency.
Interest
Interest may be rolled into the new facility or structured differently depending on lender criteria. We assess borrowing costs, available interest reserves and cash-flow implications.
Fees & total cost
We compare new arrangement fees, valuations, monitoring surveyor costs, legal expenses, existing lender redemption charges and any outstanding interest. The overall refinancing cost is critical.
Remaining Works & Security
Lenders review the current condition and value, remaining build costs, contractor arrangements, technical reports and project viability. Further security or equity may be required.
Refinancing & Repayment
The new facility may repay the existing lender and fund remaining construction works. Repayment is normally expected through property sales or an agreed longer-term refinance following completion.
All finance is subject to lender approval, valuation, legal checks and project viability. Refinancing may require additional borrower equity, and funding is not guaranteed.
What to Consider When Refinancing a Part-Completed Development
An existing development can be more complex to finance than a new project. Understanding the true funding requirement early is essential.
Your Existing Lender
Confirm the exact redemption amount, loan maturity date, available drawdowns, outstanding interest and any default or extension charges.
Remaining Cost to Complete
Establish a realistic, independently supportable budget for completing the works, including contingencies and professional fees.
Your Funding Shortfall
Compare the amount required to repay existing debt and finish the project with the borrowing a new lender is likely to offer.
Your Revised Exit Strategy
Review remaining construction time, projected GDV, expected sales and potential delays to establish a credible repayment plan.
How We Help Get Your Development Back on Track
Part-completed schemes need an experienced broker who can assess the problem, negotiate with lenders and manage the moving parts. We take ownership of the funding process.
1. Assess Your Current Position
We review the existing debt, lender terms, current project value, remaining works, costs and revised programme to assess whether refinancing is realistic.
2. Identify and Negotiate Options
We shortlist lenders experienced in part-completed schemes, present the proposal, discuss funding shortfalls and compare potential solutions.
3. Package and progress the case
We prepare the funding proposal and coordinate the existing lender, incoming lender, valuer, monitoring surveyor and solicitors to address outstanding requirements.
4. Manage through to completion
We negotiate practical solutions where possible, track the refinancing requirements and work with all parties to progress the loan towards completion.
Refinancing depends on lender approval, valuation, legal requirements and project viability.
Your Part-Completed Development Finance Questions Answered
Can I refinance a development before construction is finished?
Yes. Some specialist lenders will consider refinancing developments that are already under construction. They assess the current property value, outstanding debt, remaining works, projected GDV and whether the scheme has a realistic route to completion.
What happens if my existing development lender won't release more funds?
The first step is to establish why further funding is unavailable and what is needed to finish the project. We can then assess potential refinancing or additional funding options, subject to the existing lender’s position, available security and project viability..
Can I borrow more money to cover construction cost overruns?
Possibly, but additional borrowing depends on the project’s value, remaining costs, total debt and lender limits. If the revised costs exceed the available lending, you may need further equity or an alternative funding structure. We assess this before progressing an application.
What information will a new lender require?
Typically, lenders will want the existing loan balance, development valuation, planning and technical information, work completed, remaining build costs, contractor details, revised programme and expected end value. A monitoring surveyor may need to assess the current position.
Is part-completed development finance different from development exit finance?
Yes. Part-completed development finance is designed for projects with construction works remaining, potentially refinancing existing debt and funding completion. Development exit finance is generally intended for completed or near-completed schemes where the main objective is to repay construction lending or allow time for sales.
Peace of Mind With A Trusted and Regulated Broker
Xcel Finance is Directly Authorised by the Financial Conduct Authority (FCA) and a member of the National Association of Commercial Finance Brokers (NACFB), providing added reassurance that we work to high professional standards and are committed to delivering excellent customer outcomes.
Jamie Lloyd | Specialist Finance Broker
Jamie specialises in Development Finance, using his experience and lender relationships to find practical solutions, particularly for complex projects.
You’ll deal directly with him from first enquiry through to completion. He takes ownership, working alongside you and your professional team to solve problems, provide clear advice and keep things on track.
An experienced specialist in your corner from project concept to completion.
Get a Part-Completed Development Finance Quote Here
Tell Us About Your Existing Loan and Remaining Works, and We’ll Review Your Funding Options