At Blend Network, we strongly believe in the importance of building relationships that last, relationships built upon trust and friendship. We believe in meeting our lenders and borrowers face to face, for ‘eyes tell more than balance sheets’.
For this reason, we regularly attend and speak at a number of property investor meetups, seminars, conferences and networking events around the UK. By having our ‘feet on the ground’ and by meeting property investors and developers actively involved in the regional markets, we are able to get a good sense of market sentiment in different regions, what products are doing well in which regions, and what products or regions we should stay away from. We have recently started to see a pick-up in sentiment, the so-called ‘Boris bounce’, a shift that was also picked up in a recent specialist finance sector survey that examined market sentiment in the unregulated bridging and development finance space across 2019. This survey showed that almost two-thirds of respondents (65%) believe developers are more likely to purchase sites in 2020 due to increased political certainty [1].
As a result of that improved sentiment, we also saw increased activity in January. So, let’s take a quick look at what we’ve been up to at Blend Network over the past few weeks. During the past month, we listed and funded the Dundonald deal, a 540,000 loan to finance the construction costs of 7 apartments in Dundonald that was funded in less than one minute by 84 lenders. We also funded the Factory Bridge deal, a £460,000 loan to bridge the acquisition of a development site in Northamptonshire, with planning to convert into 24 apartments. This deal was funded in 29 minutes by 70 lenders.
Get in touch if you’d like to attend one of the events we are attending or speaking at in February. That’ll be a great way to meet a member of our team and discuss your property projects. Alternatively, if you are too busy sourcing deals and have a deal that you are looking to fund, send us an email at enquiries@blendnetwork.com or give us a call at 020 3409 3300. We are here to talk!
[1] Source: Development Finance Today
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