Development lender increases loan book by 35%

Development lender increases loan book by 35%


Regentsmead Limited, the leading development lender, has today announced that it has achieved its best month on record and that its loan book increased by 35 per cent in Q1 of 2012.

The specialist lender reported its best month was in June; however, July’s figures have gone the extra mile and have actually beaten June’s. Regentsmead is currently doing three times as much business as it was this time 12 months ago and predicts that its loan book will double by the end of 2012.

Traditionally, its average loan size has been around £250,000 but that level has been gradually increasing and is now around the £350,000 - £400,000 mark.

Concentrating on more of the run of the mill loans of up to £1 million, the highest amount the lender has funded was on a 60-flat scheme in Lincolnshire where its facility was close to £10 million.

James Bloom, Chief Executive at Regentsmead Limited, commented: “We are doing record business every month and even in July, which is a quiet month, we have signed up a record amount/value of deals. Banks’ appetite for lending to small developers is diminishing all the time; brokers tell us they sometimes put cases to clearing banks but don’t even hear back.

“We are getting busier all the time and this is clearly because of the shrinking development lender market. Our brokers are now relying on us to service their clients and we believe our place in the market is ever more vital to the continued success of the smaller developer. Without niche specialist lenders the market for small developments would have almost dried up.”

B&C found out that the development lender is looking to refurbish and create more space at its current offices and will then look to add two new members of staff to its ever expanding team.


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