Finance for Property Developers

Finance for Property Developers

Gary Walsh proprietor of Optima Property Funding

About Optima

Gary Walsh, proprietor of Optima Property Funding, has provided information in FAQ format on what the business does, the market it operates in and how it works with property developers to broker finance.

Who is Optima Property Funding and what do they do?

 

Optima Property Funding (Optima) is a finance brokerage that works with property developers to arrange funding for their property projects.

 

We broker the full range of products required by property developers namely:
  • Senior & Stretched Senior Debt
  • Mezzanine Debt
  • Equity, JVs & 100% Funding
  • Forward Funding
  • Developer Exit Finance
  • Bridging Finance

 

Optima are based in Central London and broker finance for projects in England, Scotland, Wales, Northern Ireland and Republic of Ireland. As a rule of thumb we have a minimum loan size of £1M for 1st charge Development Finance (Senior and Stretched Senior Debt), £250,000 for Mezzanine and Equity slices and £500,000 for Developer Exit Finance and Bridging Loans.

REQUEST A CALL BACK

Please fill in your details to receive a call

There is no cap on the maximum loan we will broker and we place cases running into £Multi M.

 

See Product Pages for full details.

Do Optima broker FCA Regulated Business?

Optima is regulated by the FCA (Financial Conduct Authority) and therefore does broker FCA regulated business where the borrower is non – incorporated and the debt is secured by a 1st legal charge on land.

 

Therefore we are able to broker finance for a wide range of legal entities to include Limited Companies, Partnerships, Limited Liability Partnerships, Sole Traders, Trusts, and Offshore Vehicles.

 

We do not broker finance where the property is the residence of the borrower (MCOB Regulated Mortgage Contract)

Who is behind the name?

The proprietor is Gary Walsh who spent twenty five years in banking including the last six of those years in a senior position in the property finance division of a large bank. Gary is a professionally qualified, having passed the recognised ACIB (Associate of the Chartered Institute of Bankers) examinations.

 

After leaving banking, Gary set up the brokerage in 2003.

 

Gary has also undertaken a handful of property development projects thus gaining hands on experience of the challenges!

Do Optima have any industry accreditation?

 
Optima is a full member of the NACFB (National Association of Commercial Finance Brokers); a recognised and reputable body. Optima abide by the code of conduct of the NACFB.
Optima hold both Financial Conduct Authority (FCA) Permissions and a Data Protection Licence. Details can be seen at the foot of the web site.

How do Optima operate, what fees are charged and when are they payable?

We operate the following transparent and fair policy on fees:
We agree a fee with a client for the project, normally in line with our tariff but subject to negotiation on larger deals and for repeat or volume business.
Our tariff is competitive.
We disclose and rebate any procurement fee we receive from a lender. So for example let us say that we agree to charge a client 1.00% for raising £3M on a project. If the lender pays us a procurement fee of 0.5%, the client would pay only the balance of 0.5%. Therefore in essence we don’t accept lender procurement fees and hence there can be no issue of any conflict of interest.
We do not charge an upfront commitment fee with submission of the full application to the lender. Most brokers charge a non-refundable commitment fee which can range from £500 to many £’000’s.
We do not charge a fee on the issue, or acceptance of a lenders offer letter. It is common practice for brokers fees to be legally due (included in their Terms of Business) at offer stage even if in practice they are collected at drawdown of the finance. If the project aborts without completing, many brokers will pursue the client for the fee.
Our fee is paid in full upon first drawdown of the loan and hence it is in our interest to work with all interested parties (our client and their solicitor, lender and their solicitor(s), valuer, QS etc.) to get the project over the line.
A copy of our Terms of Business and our Tariff is available upon request; we do not make it available on line as we do not wish our competitors to see it!

We work with many satisfied property developer clients, some of whom have provided references which you can view on the Testimonials page of the site and who if contacted, will vouch that as well as being both professional and competent, we are competitive and fair in our fee policy.