A flexible way for developers to finance house building projects across Ghana. These tailor-made loans for property development can be arranged with competitive terms and we speak your language, no matter whether you are an experienced large developer company or relatively new SME developer to start and finish their projects.
Property development is never straightforward, but finding funding your project needn’t add to the challenge. The alternative lending market can be large and complex, but we've got bespoke funding solutions for new build projects, redevelopments, major renovation works or just general refurbishments. We can help with residential, commercial and mixed use developments.
We assess each application individually and price according to the strength of the development proposition and the borrower. We rely on our expertise over years of experience in this field to make an offer. Each loan application is assessed on its individual merits. Because every member of our lending team is well experienced in their role, we are able to work quickly and efficiently to meet development project deadlines.
Project Viability and Profit Potential
Once you understand and have calculated your project costs, you can then assess whether your development project is viable and profitable and worth progressing. You will need to demonstrate that you have a track record and experience in developing property.
Where you have little or no experience, your lack of experience should be supported by employing relevant professionals - architect, project manager, professional builder etc. A fixed price contract with your builder may be advisable /insisted upon. You will also need to show that you have the funds to support contribution needed, cash or land owned outright. We do not like lending on partially built projects.
• Annual rates within 4.50% and 12.00%
• Loans from $50k - $25m+
• Loans are secured by property/site
• Up to 75% acquisition
• Up to 100% of build costs (incl. professional fees). Occasionally can fund up to 100% with additional security.
• 70% GDV
• Interest rolled up or paid monthly
• Borrowing term from 1 to 24 months
• Competitive pricing and terms
Can be used for
New or Unfinished projects, be it:
• Retail development
What do I need to make an application?
We will need to see:
• Purchase price or current value of property if owned
• A breakdown of your build/conversion/renovation costs
• Expected end value
• Level of contingency
• Costing with full breakdown
• Timescale for the project
• CV of experience - particular focus on property development
• Details of relevant professionals involved with your project, architect, project manager, builder etc
• Copy of planning permission
• Building regulations
• Any agreed ‘off-plan’ buyer(s)
• Details of any planning restriction if applicable
Stages to obtaining finance
Once you have identified a suitable building project with building permit or planning permission, or own a project with building permit or planning permission, you should contact DCANS Investments to discuss finance options.
2. Indicative Terms:
If the terms offered after your first enquiry, are attractive to you, one of our advisers will be able to fill out a brief development fact find and provide you with Indicative Terms from our backoffice. This is usually within 24 hours after enquiry.
3. Agreement in Principle:
This is when we communicate to borrower outlining our offer of finance and charges. It will be subject to a number of conditions for example; valuation, copy of the building permit or planning permission etc.
4. Site Visit:
We will come and meet you and your professional team on site to discuss your project.
A professional experienced surveyor will be sent to comment on aspects of your development. He will value the plot/property in its current condition and comment on likely build costs. He will also give an expected market value on completion and comment on the saleability of the finished project.
Before we issue a legal development finance offer, your application will be underwritten. This is confirmation of the exact terms of the loan and includes all costs involved ie. set up fees, interest rates etc.
In all cases, you will need your own solicitor to act on your behalf. It is important to use a lawyer that understands the processes involved in financing a development project. Choosing the wrong solicitor can cause unnecessary delays. The best lawyers are not always the cheapest and, if speed and efficiency are important, you may have to pay a little more - particularly to beat other builders competing for the project.
Where possible, employ a solicitor in your own local area. There will be occasions when talking to them direct or visiting their office at short notice will benefit you.
Completion is the term used to indicate that finance has been fully arranged and funds can start to be released. If you are buying the development, it is the last stage in the purchase of the site/building. The legal documentation is finalised and we would have sent any mortgage funds if applicable to your solicitor.
At this point, you will add your contribution towards the purchase which will then be sent to the seller's lawyer. As soon as the seller's solicitor receives the money, the site/property will be yours. This means that development can start.
Completion is the last step in releasing funds and/or purchase but marks the first stage in starting your project.
Any property used as security, which may include your home and/or business assets may be repossessed if you do not keep up repayments on your loan, or any other debts secured on it.
However, you may avail yourself of our repayment assistance programme, if you meet the criteria as and when necessary.