London financier Regentsmead launches development loan

Privately owned lender, Regentsmead, has launched a flexible, development lending product to the market.

The North-London based finance firm promises that the development lending product will be its most flexible yet, and will greatly benefit introducers trying to get fast development funding to their clients.

The new development-lending product has an annual interest rate of nine per cent, which is payable monthly, working out at 0.75 per cent per month. Additionally, funds can be made available within five working days of an offer being signed.

James Bloom, chief executive of Regentsmead, said that the firm launched the product after extensive research with its introducers, adding that a more bullish, aggressive attitude must be adopted as the market begins to improve.

“We’re cautiously optimistic, we don’t think we’re at the beginning of another big boom but we do want to capture more market share,” he said.

“We have reduced the payable interest rate by 50 per cent, which eases cash flow considerably throughout the project, and if you are an introducer this will be a much easier product to sell to your clients.”