How we work
Development finance, structured around your development
We don’t start with a lender. We start with the numbers. Every BluCow raise runs through the same four stages — understand the economics, design the capital, pre-empt the credit view, and take it to market — so the structure fits the project, not the other way around.
A development is rarely funded by one loan, and the cheapest headline rate rarely produces the best outcome. The question we work from isn’t “how much can you borrow?” — it’s “what capital structure gives this development the right leverage, the right cost of funds and the execution certainty to deliver the return?” We answer it by reading the project the way a valuer and a credit team will, because that’s the background the whole method is built on.
The method
Feasibility → Structure → Credit → Execute
Feasibility
Understand and reconcile the development’s economics. Before any talk of lenders, we work through the feasibility until the numbers reconcile — land, cost, end value, margin, timing and the assumptions a valuer will test. If a deal doesn’t stack up here, no funding structure will fix it.
Deliverable: a reconciled feasibility view.
Structure
Design and compare the capital options. We model how alternative structures — senior, stretch senior, mezzanine, preferred equity — change the equity required, the cost of funds and the return, so the choice is made on evidence, not default. This is where our tools and our valuer’s eye do the most work.
Deliverable: structured options, compared to the dollar.
Credit
Prepare it the way a credit team will read it. We identify how the transaction is likely to be assessed and resolve the questions — leverage, presales, builder capability, contingency, debt exit — before it reaches a lender. The submission goes out as a credit-ready funding paper, not a set of raw numbers.
Deliverable: a credit-ready funding paper and issues list.
Execute
Take it to market and close. We approach the appropriate capital providers across banks, non-bank and private credit, negotiate terms and progress the transaction through to financial close — coordinating the layers of the stack so they fit together and the blended cost still leaves the margin intact.
Deliverable: a targeted raise, closed.
See the method in action
The tools behind the structure stage
The Structure stage isn’t a black box. Our Capital Structure Comparison tool lets you model the same development funded four ways and see the trade-offs — equity, leverage, finance cost, profit and return on equity — the same way we do when we structure your raise.
Frequently asked questions
How is this different from a mortgage broker?
A broker’s job largely ends at finding a loan. Our method starts a step earlier — with the feasibility and the capital structure — and treats the loan as the output of that thinking, not the starting point. The person structuring your raise has sat on the valuation side of the desk that scrutinises it.
Do you only arrange non-bank finance?
No. We work across the whole capital stack — banks, non-bank lenders and private credit — and coordinate the layers on a single project. Where a regulated bank facility is involved, it is arranged through the appropriate licensed channel.
What do you need from me to start?
A feasibility, or the raw numbers to build one — land, cost, end value, timing and your target return. From there we work through the four stages. Send us the project and we’ll come back with a considered view.
Is anything you show me an offer or a quote?
No. Everything up to Execute is analysis and general information — illustrative structures and indicative numbers. Actual terms depend on the lender, the project and prevailing market conditions, and finance is subject to lender approval.
Have a development to fund?
Tell us about the project and we’ll come back with a considered view on how the capital could be structured across the stack.
Discuss your development