Nick Warren, Head of Lending at Regentsmead

FR caught up with Head of Lending Nick Warren from development lender Regentsmead.

Related topics:  In The Spotlight
Amy Loddington
24th January 2014
In The Spotlight

 FR: How has the changing market affected the development finance market?

The property market over 2013 saw a steady increase in prices which had a very positive effect on development activity. The increase in new build projects has meant that finance to assist with these new ventures is required and has been excellent for us. We have been committed to funding projects throughout the recession years and now that the market appears to be gaining strength we are even more focused to increase our lending. There is still a clear reluctance from high street lenders to fund new schemes and we have seen evidence of this from the enquiries we are receiving.

FR: What does 2014 hold for you?

We are extremely excited for 2014 as we have a substantial fund available and a growing team to deal with the increased demand for our highly specialist lending service. Our loan book has grown significantly in recent years and this has been mainly due to our broker partners who are invaluable to our business. Introducers are the main source of our business and we are heavily focusing our efforts on ensuring that the Regentsmead name is the first that comes to mind when an enquiry is received.

We acknowledge the importance on maintaining longstanding relationships with our borrowers and brokers so we have BDMs out on the road who are dealing with the increased demand for our service. 2013 was an outstanding year for us with us being voted Best Development Lender and we are determined to maintain this title in 2014 – time will tell!!!

FR: You launched a new product at the end of 2013 – how has that increased your enquiries? How have brokers responded to it?

We launched our ‘Exclusive Product’ at the end of 2013 which offered developers a very competitive rate of 0.75% per month (9% per annum). This product was launched initially on a short term trial but has been widely welcomed by the market so we have decided to continue this into 2014. We offer developers and brokers a choice with the availability of the ‘Classic’ and ‘Exclusive’ products and believe that our flexible approach to accommodate what the market wants has fuelled the demand for our service. Brokers have so far been really positive about what products we offer and each case still receives the award winning service levels which we always strive to achieve.

FR: What do you predict for the development finance market in the next 12 months?

We are confident that the demand for development finance will remain strong over the coming 12 months. The number of active lenders willing to support the sector is still scarce and this may change but Regentsmead has never faltered in accommodating developers so anyone who is looking to work alongside a company who will support them through both good and bad times should speak to us!

FR: If you weren’t in financial services, what would you be doing?

If I wasn’t in financial services then I would more likely be involved in another sphere of property as this is the arena which I have lived and breathed for the last 11 years.

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