I hate to be the bearer of bad news but the property sectors probably have some way to go before they hit rock bottom. The fashionable sell and rent phenomenon seems to be resulting in more repossession opportunities too. If there is anything to be excited about it is that when the market does bottom out there will be some top deals available. If you’re looking to get into property development now would be a good time to start planning your strategic move.

First-time developers will need to think about wangling bridging loans for the all-important “make or break” project. There are still some lenders prepared to lend you money for your property development project. You might have to work harder to convince them to provide the funds but nobody said it was going to be a walk in the park!

Property development finance is often easier to lay your hands on than a regular mortgage because the lenders can be more sure that you’re looking at it as a business and if you’ve done your sums properly it will be as clear as day for them to see that lending money to you is probably safer than lending to a customer who doesn’t have the same goals.

Having said that you will find an increasing number of lenders who will not look at you even if your business plan realistically indicates that you’re going to make a gazillion in profit! Many banks really have got the frights at the moment and with good reason!

If your credit record has the slightest blot on it you may find it increasingly difficult to get a loan of any kind let alone a property development finance loan. No more are the heady days where you could just saunter into your high street broker, claim that you earn 40 big ones a year even if you didn’t and they would line up to give you the cash. Now they are running away with their tails between their legs!

These insecure financial times have led to an exceptional number of people going online trying to find work. Shedloads of people Google for jobs doing data entry at home in an attempt to supplement their pay. If this is you be wary. There are plenty of scammers waiting to unashamedley take your money! I would concentrate on property development if I were you.