Regentsmead launches reduced rate finance range

by: Carmen Reichman
  • 20/09/2016
  • 0
Regentsmead launches reduced rate finance range
Development finance provider Regentsmead has launched a product range with interest rate reductions of 0.25%.

The firm launched a 15-month product as well as keeping its nine- and 12-month offerings.

The nine-month financing comes at a rate of 0.75%, while the year-long option is offered at 1.25% a month with the 15-month at 1.35%.

Regentsmead said it wanted to offer a variety of options for developers across new build, conversion and refurbishment projects. It typically finances 100% of the building cost or 50% of the purchasing price.

Head of lending Ashley Ilsen said the firm had so far seen “excellent” demand for the new range, which launched on 19 September.

“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,” he said.

He added: “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.”

Regentsmead said it had recently recorded its “most profitable year ever”. Chief operating officer Sam Howard, who was promoted to the role in August, said: “I am delighted to be able to combine our renowned five star service with a new suite of market leading 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.”

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