In football, even the best strikers can’t win a match alone – they need a strong team around them to create opportunities and provide support. And the same goes for property development. While your vision and ambition are what drives the project, having the right team of experts in place to drive it will make for a more successful result.
Every position on your team plays a vital role in ensuring the development runs smoothly. From your architects and planners to your funding line and contractors, they will ensure challenges are overcome efficiently and within budget.
Who Should Be in Your Development Dream Team?
1. An Experienced Architect & Planning Consultant
You want an architect who gets your vision but also adds their own perspective, while making sure that your plans are compliant with local regulations. For help with planning, a local planning consultant will help guide you through any complex laws – increasing the chances of approval.
2. A Skilled Contractor & Project Manager
A skilled and trusted contractor will ensure your development is built on time, within budget, and to the highest standard. Meanwhile, a strong project manager will keep everything running smoothly, mitigating risk and handling the day-to-day challenges to prevent any costly delays
3. A Strong Legal Team
From site acquisition to JV agreements and planning permissions, a specialist property solicitor will give you peace of mind that every legal aspect of your development is covered – streamlining the process by managing contracts and handling any potential disputes.
4. A Specialist Finance Broker
A highly rated specialist broker ensures you secure the right funding for your project. With development finance being more complex than traditional mortgages, a specialist finance broker is well-versed on lender requirements so will negotiate the best terms and know how to structure your application effectively.
5. A Reliable Lender
A development finance lender that understands the challenges, offers flexibility when required, and delivers quick decisions is crucial. Delays in funding can be costly, so working with a lender who prioritises speed and certainty will keep your project on track.
How the Right Lender Made the Difference
This was clear when we were recently approached by a broker whose client was a first-time developer. They had identified a site they were eager to develop but through our early-stage analysis, we identified that the project lacked the necessary profit margin to make it a viable investment for the client.
Rather than push forward with a deal that wouldn’t serve the client’s best interests, we explained the potential risks to the client and his broker. Determined to pursue their first development, the client found a new opportunity – a single three-bedroom detached home with stronger ROI.
Now that the client had secured a more suitable site for a first-time developer, we worked closely with them and provided a 12-month loan facility, covering 55% of the GDV (plus rolled-up interest), 100% of the build costs, and 50% of the day-one purchase amount, with a total loan facility of £275,000 and a day-one loan amount of £75,000.
Choosing a lender who could immediately identify potential issues in their initial project and guided them toward a more viable project, helped them secure a site better suited to their experience.
With the right finance, legal, and construction team in place, the three-bedroom family home was completed within nine months, and the property is now on the market for £625,000. What’s more, the client is now NHBC accredited – a testament to the success of their first development project.
Why the Right Team Matters
Property development is a fast-moving, high-stakes industry where one weak link can lead to setbacks but with the right broker, lender, legal team, architects, and contractors, you’re putting your project in the best position.
Whether you’re a seasoned property developer or taking on your first project, surrounding yourself with a strong, experienced team will help you stay on track, overcome obstacles, and achieve the best possible outcome.
If you’re looking for a development finance lender who works with you, not against you, let’s talk: hello@magnetcapital.co.uk or 020 8075 3255.
