New development finance product launched to market

New development finance product launched to market


Good news has come to the development finance sector as a privately owned lender announces the launch of a new development finance product to the market, which promises to benefit introducers in need of fast development funding for their clients.

The North-London based finance firm Regentsmead, up for Best Development Lender at our 2010 Bridging and Commercial Awards, has said that the product will be its most flexible yet.
The annual interest rate of 9 per cent, is payable monthly, working out at 0.75 per cent per month. Additionally, funds can be made available within 5 working days of an offer being signed and lending decisions can be made in minutes.

James Bloom, chief executive of Regentsmead, said that the firm has launched this product following extensive research with their introducers, adding that a more bullish, aggressive attitude must be adopted as the market begins to improve.


“We’re cautiously optimistic, we don’t think we’re at the beginning of another big boom but we do want to capture more market share,” he said.


“We have reduced the payable interest rate by 50 per cent, which eases cash flow considerably throughout the project, and if you are an introducer this will be a much easier product to sell to your clients.”

Peter Bailey, who heads up the commercial lending team for Cooper Associates in Bristol, has already put five cases to Regentsmead including a single detached house in Bristol, a five storey house in Clifton being built to provide student accommodation, four barn conversions in Oxford and a development of live work units in Somerset.
He said: “This product is excellent for cash flow strapped developers who either own plots outright or which are lowly geared and for small numbers of units. The fact that Regentsmead lend 100% of build costs is excellent and not surprisingly, the general feedback from our customers has been good.”

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