I hate to be the bearer of bad news but the property markets probably have some way to go before they hit their low point. The popular sell/rent craze seems to be creating more repossession properties too. If there is anything to be excited about it is that when the market does reach the bottom there will be some excellent deals available. If you’re looking to get into property development now would be a great time to start planning your tactical move.

Newbie developers will need to think about wangling a bridging loan for the all-important “get off the ground” project. There are still plenty of lenders prepared to lend you money for your property development undertaking. You might have to work harder to convince them to provide the funds but nobody said it was going to be easy!

Property development finance is often easier to get than a regular mortgage because the lenders have evidence that you’re attacking it as a business and if you’ve done your research properly it will be as clear as day for them to see that lending money to you is apparently safer than lending to someone who doesn’t have the same goals.

Having said that you will find an increasing number of lenders who will not touch you with a bargepole even if your business plan realistically demonstrates that you’re going to make a gazillion in profit! Many banks really have got the horrors at the moment and there’s a valid reason for that!

If your credit score has the slightest blot on it you may find it very difficult to get finance of any kind let alone a property development finance loan. No more are the heady days where you could merely saunter into your high street broker, state that you earn 40 thousand a year even if you didn’t and they would find it easy to give you finance. Now they are quaking in their boots!

These uncertain financial times have led to an unprecedented number of people trawling cyberspace trying to find work. Many people Google for data entry at home work in an attempt to bolster their pay. If this is you be wary. There are hundreds of scammers waiting to separate you from your hard earned cash! I would stick to property development if I were you.

Pets