New NACFB Patrons on the rise

Following from an immensely successful conference at the NACFB expo, I would like to follow on the debate over new NACFB patrons

Section: News from the NACFB

Following from an immensely successful conference at the NACFB expo, I would like to follow on the debate over new NACFB patrons.


At Regentsmead we have been members of the NACFB for many years, lending right the way through the recession. We have a proven track record and are often able to take on the unusual cases where other lenders fear to tread. We are one of the longest established lenders in the market and as a result we take our patronage very seriously and are proud of our position within this rapidly growing organisation. At the same time it is obviously crucial that new patrons and members are able to comply and achieve the high standards set by the incumbents. 

Before listing key attributes that we think patrons should have, it’s important to determine what makes a lender reputable and worthy of being part of the NACFB. It’s also important to note that even once a patron is accepted, self-evaluation is a vital ongoing process in order to ensure that lending practices are kept to the highest standard.

What to look for in a worthy patron

Track record

Experience is crucial to a lender being able to successfully evaluate a case. In the case of a development a profound understanding of property and the inevitable hiccups that come with it is essential. If a lender is looking at becoming a patron of NACFB a good history of successful and above all transparent lending practices is crucial.

Available capital

As a client there would be nothing more frustrating than having a case accepted and then later refused due to a lack of available funding. Having liquid resources allows deals to be underwritten with the confidence that the funds are allocated and set aside for the client. At Regentsmead once a client has paid a commitment fee their funds are immediately allocated from our substantial internal resources to ensure they are available when needed. We have never turned down a case due to lack of funding and I believe any new patron has to show that they have similar practices to avoid such let downs.

Transparency

Much has been made of the effects of the recent changes in regulation that has come into the market. Even for a company such as ourselves who are not directly regulated we are still very aware of the increasing spectre of further regulation. Despite being unregulated we have always championed the power of self-regulation. Our view of self-regulation is that we are extremely transparent over areas such as procurement fees and introduced business. I ensure everyone in the Regentsmead team goes the extra mile to make sure that client’s understand what we ask of them in terms of their commitment to a loan facility, and vice versa we are transparent about the costs incurred when borrowing from us.

Whilst it is important not to rest on ones laurels and continually finding new ways to innovate and improve lending practices, existing patrons of the NACFB have to continue to set the bench mark for new patrons that consider themselves as ready to join the association.

For an immediate decision on a development finance enquiry call the team on 0208 952 1414 or visit www.regentsmead.com 
 

Keywords: Regentsmead, rise, NACFB, patron, members, development, bridging, commercial, lender, brokers, transparency, conference

Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/new-nacfb-patrons-on-the-rise