Process to funding
Three steps to our decision
Understanding of opportunity. The starting point is for the developer to make contact with us – and the earlier the better. From that initial discussion, we will visit the site and meet the developer and get a clear understanding of the core characteristics of the scheme. At the same time the developer will provide Wolsey with all key documents, including an Appraisal; the Planning Application/Permission; and Plans of the proposed development.
Once the opportunity and needs are understood, information received and potential established, Wolsey will look to tailor a funding solution with the developer. This will result in a funding proposal being put forward. Often there is an element of urgency at this stage and Wolsey will look to respond effectively to meet the relevant deadlines.
Once discussions are concluded and all questions answered, the lending facility can proceed and the contract entered into between the developer and Wolsey. This will prompt the start of the release of the funds in a co-ordinated and staged programme to meet the scheme’s cashflow requirement. The developer and Wolsey Director will establish a close professional relationship through this process and this will continue throughout the development, with Wolsey always on hand to provide a personal service and make effective decisions to ensure the finance is in the right place at the right time.