TTT... Factor in additional time for the installation of utilities.
“Utility installation can be the bane of a developer's life.” - Eli Korman, Head of Development Finance and Chief Investment Officer.
Regardless of what’s been agreed or planned, timescales are never rigid and can often be longer than first anticipated. Installation of gas, electricity and water can take significant time and additional costs before they are running smoothly... Make sure you factor in additional time specifically for the installation of utilities. It’s also important to negotiate with contractors to come to your site and consider employing specific companies who can do the procurement of utilities for you.
If you would like to discover more about borrowing and property development finance, please get in touch with TAB today. Contact our sales team at email@example.com or call 0208 057 9070.
This article is for information only and does not constitute advice or a personal recommendation. When it comes to financing, any property used as security is at risk of repossession if you do not keep up with your payments. If you are unsure of the risks, you are advised to obtain appropriate professional advice. TAB is an unregulated lender so will not lend on your principal property.