Regentsmead has announced the launch of a new range of development finance products..
The products include a variety of new options for developers across new build, conversion and refurbishment projects.
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 resulting in a major overall cost drop for the new product at 15 months term while on the 12 month term rates have come down by 0.25%pm along with a significant reduction in exit fees.
Ashley Ilsen, head of lending at Regentsmead, said: “We would firstly like 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 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.”
The firm has appointed a number of new team members to help support the products.
The announcement follows a record-breaking month for the development finance provider, with new business having grown 50% in August.
Sam Howard, chief operating officer at Regentsmead, added: “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.
“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.”