The products focus on covering various options for developers across new build, conversion and refurbishment projects offering a range of term lengths and will be available at a lower interest rate.
Borrowers can choose from a range of term lengths of up to 15 months, which are available at a lower interest rate.
Both rates and fees have come down - for example , for the 12 month term product, rates have been reduced by 0.25%pm along with a significant reduction in exit fees.
Head of Lending, Ashley Ilsen, said:
“We would like firstly to thank our introducer partners for helping us in the development of the new products and giving us feedback on our service levels to date. It’s a very exciting time here at Regentsmead and demand for the new range of development finance options appears to be excellent. We have agreeable term lengths - ranging up to 15 months now - giving our developer clients maximum flexibility and sufficient time to sell or refinance once the project is complete.
"We are well recognised for having exemplary service levels and we are now able to offer the same speed, service and flexibility at a lower overall cost to the end user. We have had a period of bringing in new team members to help support the products and I have no doubt this is the strongest Regentsmead team to date. It’s a very exciting time for us all here at HQ.”
Sam Howard, COO, said:
"I am delighted to be able to combine our renowned five star service with a new suite of products that will provide the right solution for our borrowers. This includes trialling a new 15 month product that will provide added flexibility for our borrowers who have larger schemes. Following on from the most profitable year in the company’s history, it is a really exciting time for the business as we look to grow the loan book, build the team, and take Regentsmead to the next level.”
