Tom Robinson weighs in
on the development lenders in the market
Gerard Morgan Jackson structured a deal that perfectly met the requirements of the borrower with the loan allowing time to deliver a sensible combination of sales and lettings. Gerard is very focused on providing structured debt solutions to high calibre borrowers where other funders find problems and delays. The ability to then pass the transaction over to Ajsela Cela to ensure a speedy and pain free completion makes for a very efficient and effective process. //
Whilst there are several development lenders in the market to choose from, most tend to specialise in one or two areas. This can often mean that clients have to refinance their schemes with different lenders as they move through the various stages of a development and beyond. For example; acquisition, planning assembly, development, sales period and/or investment. Each change of facility can trigger additional costs including solicitor and valuation fees and these can take a substantial bite out of the developer’s margin. But perhaps more importantly, and especially in the current uncertain economic environment, there can be a lack of certainty when it comes to agreeing a new facility with a new lender. The relationship built up with the lender during a previous stage of the project counts for nothing if the developer then has to seek out a new funder to accommodate their next step.
Once a client has established a relationship with UTB, we are able to move with the client, adapting as the scenario and the client’s needs change. Being a specialist property lender, UTB provides flexible funding solutions. If necessary we can support a developer or house builder with structured finance, development finance and bridging finance with the three divisions working closely together to provide the most suitable solution.
Read the full article here; www.utbank.co.uk