Development lender celebrates 30% growth

Development lender celebrates 30% growth




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London-based development lender Regentsmead has announced a 30 per cent increase in loans advanced since April 1 2011, marking the highest number of loans advanced since their lending business started 20 years ago.

“We attribute this down to the increased marketing we have done and the new product we launched last year,” said James Bloom, CEO of Regentsmead. “We have worked very hard to create and cement new broker relationships and we believe this has been a major contributory factor in the substantial upturn in business we have seen, we have substantially increased the amount of business we are doing with our broker partners.”

 

“We also think that winning the Best Development Lender of the year award at the Bridging & Commercial Awards in both 2010 & 2011 has definitely contributed to our success. We are very pleased to have been the most nominated lender at the awards and it hopefully shows we are doing something right.”

 

James Bloom explained that whilst Regentsmead were not in the habit of publicising their loan book or any of the finer details of their growth, they felt that this unprecedented level of growth was worth talking about because it shows the development sector is really starting to improve again and this is particularly relevant for brokers as 80-90 per cent of enquiries they get is via our broker partners.

 

Specialist packager and Director of The Funding Operation Terry Markham concurred with the sentiment. He said: “This year we have seen a massive increase in demand for development finance. This is no doubt due to the ongoing reluctance of high street banks and other traditional avenues of finance to fund development projects.”

 

The difficulty in accessing traditional avenues of finance has resulted in the augmented demand which Regentsmead and several other private lenders have witnessed.

 

James Bloom added though that Regentsmead were keen to ensure that they didn’t exploit excess demand by increasing rates excessively. “We have seen some frightening increases in margins particularly over the last six months, we have always based our business on loyalty and repeat customers, whether brokers or developers and we have not made any major adjustment to our pricing over the last two years.

 

In response to their recent growth, Regentsmead noted that they are now looking to recruit another member to their team to help them deal with the flow of business.

 

For an immediate response please contact one of the Regentsmead team on 020 8952 1414,

www.regentsmead.com

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