LTC · Loan to cost
Gross senior exposure against entered project costs before finance. A lender’s definition of eligible cost may differ. Land uplift may not count as cash equity.
MANORWEST GROUP · FREE PROJECT TOOLS
Understand the funding.
See the equity gap.
Explore how property value, costs, income and funding structure affect the capital you may need—from an individual refurbishment or self-build to housing sites and commercial developments.
A planning illustration, not a lending decision. All example rates and limits are editable assumptions, not current offers or eligibility criteria. This calculator does not search lenders, recommend products, arrange finance or assess personal affordability. Your home or other secured property may be repossessed if repayments are not maintained.
Calculate your illustration to see the funding breakdown.
The PDF opens as a document. On iPhone, use Share → Save to Files, or Share → Print. It includes your assumptions and limitations.
100% funding: look at what the percentage covers
Funding all construction costs is different from funding the land, construction, taxes, professional costs, finance charges and working capital. Some structures combine senior lending, junior debt, additional collateral or joint-venture equity. A developer may still contribute land, incur upfront costs, provide guarantees or share profit.
To explore 100% of works, set works coverage to 100% and keep the total cost and value limits appropriate to your assumed terms. To explore full project funding, adjust the cost/value limits or add a separately agreed junior or JV contribution. The calculator will still show any cash shortfall and stage liquidity need. These settings do not establish that funding is available.
What this model covers—and what needs a bespoke review
LTGDV / LTV
Debt against the completed value or current security value. Value-based limits can constrain lending even where cost funding is high.
ICR · Rental interest cover
Annual gross rent divided by interest at your stress rate. The BTL model caps borrowing by both rental cover and LTV. Portfolio and personal circumstances still matter.
DSCR · Debt service cover
Net income or trading cash available divided by stressed annual debt payments. Commercial model uses your selected interest-only or amortising structure.
Staged releases & cash
Works are spread across the entered months, with equal-calendar stages. Arrears require works to be paid before reimbursement. Advance releases occur at stage start. The model is cost-based, not an interim valuation guarantee.
Senior, junior & JV
Junior and JV capital are manually entered, not assumed approved. Junior debt compounds monthly from day one. JV profit is a simple positive-profit split, after finance and before tax; negotiated waterfalls are not modelled.
Large or phased sites, mixed tenures, build-to-rent, commercial pre-lets, multiple security assets, unit releases, presales, revolving facilities, preferred equity, grants in arrears and development agreements require a bespoke cash-flow model. The tool assumes one senior facility and one exit at the end, with no sales recycling. It does not model affordable-housing contracts or lender-specific covenants.
Self-build uses project funding and stages only; personal income, outgoings, creditworthiness and affordability are not assessed. VAT recovery, property taxes, guarantees, planning, ecology, building safety and borrower eligibility require appropriate specialist review. Enter applicable SDLT, LBTT or LTT and VAT cash needs yourself; no automatic tax calculation or recovery is included.
Method & source notes
Method reviewed 2 November 2026. Sources explain financing structures; no product rates or limits are copied into the examples. Lender terms can change and examples are not recommendations or endorsements.
- Shawbrook: development finance and staged drawdowns
- United Trust Bank: case study distinguishing full build funding from developer equity
- BuildStore: advance and arrears self-build releases
- The Mortgage Works: rental cover and stress tests
- Lloyds Bank: cash flow and debt service
- FCA: mortgage affordability and stress testing
For personal mortgage or borrowing advice, speak to a suitably authorised adviser or lender and check the FCA’s guidance on checking authorisation. Regulatory status depends on the transaction; self-build, owner-occupied and some buy-to-let borrowing can have different protections.
Bring the project assumptions into focus
Manorwest can help examine the commercial appraisal, site constraints, abnormal costs and delivery evidence behind a project. A calculator cannot establish lender acceptance or replace technical, legal, tax or regulated financial advice.
Discuss a project appraisal Return to the preliminary appraisal