<b></b><p></p><p><b><b>The project financing business is becoming increasingly competitive as, following the consolidation in the industry, many experienced housebuilders look to launch their own enterprises. They have the experience and expertise - what they need is the cash. Tim Palmer finds out who can help</b></b><br><b>Funding is integral to property acquisition and development. Finance providers often need to act within tight timetables to enable clients to move fast on innovative schemes and meet completion deadlines. Successful developers, therefore, tend to build and maintain long term relationships with their lenders who can consequently respond rapidly to demands. </b><br><b><b>Client commitment</b></b><br> Development funding is generally calculated as a percentage of the total cost of the scheme. Lenders usually prefer the client&amp;’s contribution to be made immediately towards acquisition with the lender providing any balance to acquisition then funding development in stage payments. </p><p>Banks with specialist property teams, such as Investec, can advise clients how best to progress individual development transactions - invaluable for smaller developers requiring advice on deal structure. Investec&amp;’s Jill Hagland gives an example: &amp;“A few specialist property lenders will consider providing a degree of mezzanine finance, either behind the senior lender or in addition to a conventional loan, if the client&amp;’s return …