The product, which is available this month after being piloted throughout the summer, involves the inexperienced developer partnering up with a construction firm with an agreement in place.
This latest innovation will enable Regentsmead to fund schemes that would not have met its criteria previously.
James Bloom, Chief Executive of Regentsmead, told B&C that its brokers came up with the idea after becoming frustrated when placing deals for inexperienced clients.
“Approximately 4 out of 5 of our brokers will leave development finance enquiries because they struggle to place them,” James said.
“Some of these prospective developers have some excellent projects, however, they fail to meet certain criteria due to lack of experience, and so it’s been very frustrating turning some of them down.
“Thankfully we have found a way to change this now.”
After an “overwhelming success” during the trial period, Regentsmead is now excited about officially launching the product to the whole market.
Bob Fidock, CEO of Altius, which helped develop the product, said it was a “much needed approach” to unlock opportunities that may have otherwise remained undeveloped.
“…with the need for homes remaining at an all-time high this is a perfect example of how SMEs can be supported to meet that need and we look forward to meeting the challenge,” Bob added.
“The purpose of this exercise is that we can offer the same five star service with the same speed, and by providing a turnkey solution, the prospective developer will incur less costs and have all the hassle of property development taken care of for them,” James added.
“It’s a win-win scenario all round.”
Regentsmead plans to make the product, which forms another vital part of its recent campaign to help ‘Get Britain Building’, available to both its introducer partners and direct clients.
Leave a comment