Development finance calculator: your scheme, priced live.
Enter your GDV, total project cost and the facility you need. See LTGDV, LTC, interest modelled on a realistic staged drawdown profile and the full fee stack, instantly and without giving us a single contact detail.
See your full cost of borrowing. Instantly.
No email gate, no callbacks required. Adjust the inputs and every figure, interest, fees and redemption, updates live. The honest guide. No jargon.
Whole of market today: 0.69% to 0.95% pm on first charge residential and semi commercial, higher on commercial, land and second charge. The figure above is the assumption the numbers use; change it to model a rate you have been quoted.
First-charge residential / semi-commercial assumed. Second charge and commercial priced on request.
Indicative only. Not an offer of credit. The rate above is an assumption you can change, not a quote. Real pricing, fees and leverage vary by lender, asset, exit and borrower profile and can move at any time. Valuation and legal costs are estimates. Everything is subject to valuation and full underwriting. HyLend is a credit broker, not a lender.
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What the calculator shows you
Development pricing confuses people for one reason: interest accrues on the drawn balance, not the facility. A £5m facility drawn progressively over an 18 month build does not cost anything like the headline rate applied to £5m. Our calculator models a staged drawdown profile at roughly 60% average utilisation, which is what real schemes look like, so the interest figure you see is realistic rather than frightening.
You also get both leverage measures live: LTGDV (facility against end value, capped around 70%) and LTC (facility against total cost, capped around 85%). Whichever cap bites first sets your maximum facility, and the calculator shows you which one is binding on your numbers. For what the terms mean in practice, read the development finance guide.
From model to terms
Press apply and your inputs and quote attach to the application automatically. We test the scheme against the whole market and issue lender backed indicative terms within 24 hours. If mezzanine would improve the structure, we price the combined stack at the same time.
A worked example: how a development facility is really costed
Gross development value £4,000,000, total cost £3,000,000, facility of £2,500,000 over eighteen months. That is 62.5% of GDV and 83.3% of cost, inside both typical caps. The calculator returns:
| Line | Figure | Why it is there |
|---|---|---|
| Facility | £2,500,000 | Tested against 65% to 70% of GDV and 85% of cost |
| Rolled interest on a staged drawdown | £213,750 | 9.5% on the drawn balance, assuming about 60% average utilisation over the build |
| Lender arrangement fee (2%) | £50,000 | On the facility |
| Exit fee (1.5%) | £37,500 | On the facility, paid at redemption |
| Monitoring surveyor | £7,500 | Certifies works before each drawdown |
| Net available toward the project | £2,236,250 | The facility after fees and rolled interest |
| Total cost of borrowing | £340,000 | About 13.6% of the facility over eighteen months |
Two things the table shows that appraisals often get wrong. Interest is charged on what is drawn, not on the facility, so the real interest bill is well below the rate applied to the full amount. And the net available toward the project is £263,750 less than the facility, so a scheme that needs £2.5m of funding needs a larger facility than £2.5m. Development finance rates and fees →
How to read the result
- Loan to GDV and loan to cost. Both are tested and the lower answer sets the facility. On a thin margin scheme the GDV cap binds before the cost cap. Which cap binds and why →
- Rolled interest. Estimated on a staged drawdown profile because that is how the money is actually released. A scheme drawn fast and early carries more interest than the estimate; one drawn late carries less.
- Net available toward the project. The number to compare with your build budget. If it is below what the scheme needs, the equity has to cover the gap or the facility has to be larger.
- Total cost of borrowing. Interest plus every fee, so two facilities a point apart on rate can be compared honestly.
What the calculator cannot tell you
The GDV a valuer will support is not the sum of your unit prices, and on a multi unit scheme it may be an aggregate figure below it. The equity a lender recognises is not the same as the cash you have: land you own and planning spend already committed can count, but only with the right lender. And your track record moves the rate by a point or more on identical numbers. Those three questions are the conversation, and the calculator is what you bring to it. Development finance, explained honestly →
Take it further in a spreadsheet
The calculator gives you the facility; the templates give you the programme.
- Development appraisal, detailed monthly cash flow with the peak balance tested against the facility.
- Development appraisal, basic the one page version.
Development finance calculator FAQs
How is interest calculated on development finance?
On the drawn balance, rolled up and repaid at the end rather than paid monthly. Because the facility is released in stages against certified works, the average balance over the build is typically around 60% of the facility, so the calculator estimates interest on that profile rather than on the full amount. On a £2.5m facility at 9.5% over eighteen months that is about £214,000 rather than the £356,000 the headline would imply.
What is the difference between loan to GDV and loan to cost?
Loan to GDV is the facility as a percentage of what the finished scheme will be worth, usually capped at 65% to 70%. Loan to cost is the facility as a percentage of total project cost, usually capped at 85% to 90%. Both are tested and the lower result sets the facility. A scheme with a thin profit margin hits the GDV cap first and needs more equity than the cost cap alone would suggest.
Why is the net available less than the facility?
Because the arrangement fee and the rolled interest are taken out of the facility rather than paid in cash, and some lenders also deduct the exit fee or hold a retention. On the worked example the £2.5m facility delivers about £2.24m toward the project. If the build needs £2.5m of funding, the facility has to be larger or the difference comes from equity.
What GDV should I enter?
The figure a valuer would support on completion, not the sum of individual unit asking prices. On multi unit schemes valuers commonly apply an aggregate or single lot view where the lender's exit is a block disposal. Enter a conservative number and treat a better valuation as upside, because the reverse discovery arrives after you have paid for the report.
Is the rate shown the rate I will get?
No. It is an indicative tier based on the loan to GDV you enter, consistent with the pricing on our rates page. Real pricing moves with your track record, the location, the planning position and the exit, and an experienced developer with completed schemes prices a point or more below a first time developer on identical numbers.
Does the calculator include mezzanine finance?
Not on this page. It models a senior facility. Where senior leverage is not enough, a mezzanine facility behind it can lift combined leverage to around 80% of GDV, priced from about 1.35% a month with its own fees and an intercreditor agreement. Use the mezzanine option in the product menu to model the combined stack.
A note on the GDV you enter
The gross development value entered here should be the figure a valuer would support on completion, not the sum of individual unit asking prices. On multi unit schemes valuers commonly apply an aggregate or single lot view where the lender's exit is a block disposal, and lenders may test leverage against a restricted marketing period figure as well.
It is worth pressure testing the GDV assumption before relying on any output. The full valuations guide →
Behind the numbers
What the rate and the equity on this calculator are based on.
- Development finance rates the indicative tiers by loan to GDV behind the calculator.
- Equity and deposit the two caps and why land you own counts.
