<
p>As Regentsmead builds up to its 80th anniversary, the development lender has launched an Exclusive Product, headlining at 9 per cent p.a.
Regentsmead’s new product is headlining at 0.75 per cent and is known quite simply as the Exclusive Product and is on trial for a limited time.
The trial is on until the end of the year due to a surplus of internal capital and a hunger to dramatically expand its loan book. Regentsmead has also increased its LTVs and rebranded its Standard Product as the Classic Product, giving its borrowers the best opportunity to increase liquidity for projects and enhance their choices in the market to do so.
James Bloom, Chief Executive of Regentsmead, said: “We are very excited as the leading provider of development finance in the market to further enhance our status by offering market leading terms. We are self-funded and have a substantial surplus of available capital which we want to lend into the market. To gauge the substantial levels of interest we expect we are initially offering this new Exclusive Product until the end of the year when we will review the position.”
James added: “We are still offering our Classic Product but this is an alternative at market leading rates. We can now offer our award winning service at an interest rate of only 9 per cent p.a. and we will also now offer increased loan to values. We are very bullish about the market and this exciting innovative product reflects our views and the substantial capital reserves we wish to lend into the market.
“We are still of course offering immediate decisions, funds within days and we will continue to collect our introducer partners’ commission for them and pay it at offer stage. We are already busy with new applications and we now expect to be inundated, we have cancelled all staff leave and told everyone to expect to be working seven days a week for the foreseeable future!”
Nick Warren, Head of the Lending Division, commented: “Constant reviews of a product range are critical to ensure that your offering remains competitive within the market. We have now revamped not only our product range but also our LTV and costing – we feel that with these changes we can maintain our leading position in the development finance arena. These revisions mean exciting times for introducers, developers and the expanding Regentsmead team – a win win for all!”
Despite the fact that Regentsmead was again awarded the title of Best Development Lender by the industry in 2013 they are constantly looking to improve their product range and service. Regentsmead made these changes in response to feedback from broker partners and borrowers.
Regentsmead has substantial internal capital resources and due to the sale of investments within the group additional resources became available. The new product is being trialled until the end of the year when a further review will be undertaken.
As Regentsmead builds up to its 80th anniversary, the development lender has launched an Exclusive Product, headlining at 9 per cent p.a.
4 Comments
Dave Messenger
Good news guys. How about giving us full details of the increased LTVs as well?
James Bloom
Thank you Dave, it is exciting news for the industry. We are now comfortable at 50% LTV rather than looking to lend up to this level. We may even look slightly higher for the right deal but 50% is our new benchmark. As you can see we are lookin to capture even more market share and are taking a very bullish approach. We look forward to discussing a deal shortly. Regards James
Bob Havenhand
This is all well and good and gungho for the Southern brokers, but what does it do for us Northerners, you know! us North of Birmingham, us in the cold Arctic wilderness. The leading lender is Aldermore, WHY? because they dont apply a North/South divide.
James Bloom
Bob Thank you for your comments as usual! We are based in the South and offer a very personal service so we want to be able to get to our sites within a reasonable period of time. However send me your next low LTV deal and as it is you we might well fund it! Regards James