Development Finance Today

As optimism seeps into our market, we believe now is a good time to take a look at the big picture, to see how the sector has performed recently, and pinpoint the challenges that still remain—all to prepare for a more positive year ahead. For The Big Picture Issue, we sit down with MSP Capital Ltd’s head of broker relations, and Tapton Capital ’s founding director, to find out whether optimism has indeed returned to the specialist finance market. We also look at the potential ramifications of the Leasehold and Freehold Reform Bill on the commercial market, and we pass the mic to several property lawyers from JMW Solicitors LLP, gunnercooke, Ackroyd Legal, Memery Crystal and TLT LLP to dispel some of the myths surrounding the infamous legal delays. In addition, we take an in-depth look at the intricacies of setting up your own specialist finance brokerage as an AR or DA, with the help of several experts from Word On The Street, Redi Finance, Grand Union Finance, The Mortgage Mum Limited, DevBrok Limited, Ngage Finance, elan property finance and Ross Commercial Finance. We also shine a spotlight on the success stories of two industry stalwarts: Together - loans, mortgages & finance's Marc Goldberg, and Juliet Baboolal LLB (hons), LLM construction from gunnercooke, and introduce you to the masterminds behind Greymax Capital, the lender determined to take bridging back to its purest form. Plus, OSB Group's Jon Hall talks exclusively to us about PRECISE.'s rebrand and its exciting plans. Of course, this wouldn’t be The Big Picture Issue without an exclusive look at the latest EY UK Bridging Market Survey. We’ve put our detective hats on to investigate the sector’s performance over the past 12 months, identify what influenced this, and reveal the sentiment for the market in 2024. Read all of this, and more, in the latest issue of the B&C Magazine: https://lnkd.in/dPAJtzg9 Alan Margolis Rachel Bartlett Michael Kingsley Ben Sokel James Lennon Shawbrook Bank Terry Woodley Dave Symondson MCIOB Meir Peer Nathan Raffour Andrew Gage Shazad Ahmed Emma Ross Sarah Tucker Vruti Parmar Jonathan Chiew

Vistry Group, agreed a £3m enabling works contract with Salford City Council in the first step towards delivering 274 homes in Ordsall. Joe Turner, MD at Vistry Manchester and Cheshire East, said: “We are delighted to deliver this new development for Salford Council." Read the full story at DFT: https://lnkd.in/etXYbdWy

"An area that is increasingly catching the eye of developers is purpose-built student accommodation (PBSA), with more developers than ever now looking to move into this type of asset." Read the full opinion piece by Neil Leitch, managing director at Hampshire Trust Bank at DFT: https://lnkd.in/ehn8TfXW

Persimmon Homes has completed the purchase for land that will deliver up to 239 homes in Leicestershire. “Our upcoming new community will bring a wide range of new benefits to the area, including major improvements to local roads, public open spaces, healthcare, and education,” said Dan E., managing director at Persimmon Homes North Midlands. Read the full story at DFT: https://lnkd.in/eKF4WfMv

The wait is over: the latest issue of the B&C Magazine is now out! The July/Aug 2024 issue of the B&C Magazine is focused on education and industry standards within the specialist finance sector. With July marked the first anniversary of the new Consumer Duty rules, we bring you a full overview of how the new regulation has impacted the regulated bridging market, and what these rules mean for our sector. Several industry experts from Glenhawk, MT Finance, Connect for Intermediaries, United Trust Bank Limited, Master Finance Specialist Brokers, Jackson Cohen Associates Ltd, StreamBank, Aria Finance, share their experience of implementing the Consumer Duty rules, and the challenges that they faced during the process. As the issue is focused on industry standards and aims to inspire and help the industry reach the next level, we bring you exclusive interviews with some of the top inspirational people, including HTB's Uliana Kuzmis; Enra Specialist Finance's Danny Waters and West One Loans's Tom Cantor and Guy Murray; industry heavyweights Alan Cleary and Roger Morris, StreamBank's CEO Mike Kirsopp, Finanze Group's Alastair Hoyne, MLIBF · CeMAP · CPSP and Andy Keehner, and many more. Moreover, we also take a look at how social media is changing the professional image of people working in the specialist finance sector, and whether LinkedIn is the right place to air your dirty laundry 👀 Read the full magazine issue here: https://lnkd.in/eB9fZ3ki Jamie Pritchard Gareth Lewis Sundeep Patel Liz Syms Lucy Waters Aaron Noone Mark Toland Kim McGinley Anastasia Ttofis 🟡🔴🔵🟢 Shazad Ahmed Spring Finance Limited Jim Baker Claire Newman Victor Jannels CertPFS CeMAP CPSP Adam Tyler

The British Property Federation has welcomed reported plans by the HM Treasury to increase social rent above inflation for the next decade. It has been reported that chancellor Rt Hon Rachel Reeves intends to introduce a 10-year formula in October’s budget that will increase annual rents in England by the CPI measure of inflation plus an additional 1%. Commenting on the reports, Ian Fletcher, director of policy (real estate) at the BPF, described this as a good way of boosting affordable home supply. Read the full story at DFT: https://lnkd.in/eUVK2TFy

The portfolio value of the Urban Splash Residential Fund, focusing on sustainable urban regeneration profits, has surged 25% to £93.3m. According to the fund’s annual results, this increase is driven by £18.4m in property acquisitions. This included the acquisition of East Street Mills, the largest to date for the fund, which added £1.1m in rental income to the portfolio. Urban Splash was established by SURE Capital Partners in June 2017 and Akeel Malik, partner at the firm, described FY24 as a “significant year of growth”. Read the full story at DFT: https://lnkd.in/eXp4F9sn

Watkin Jones Group has secured council approval to build a 784-bed PBSA in Glasgow. Called ‘The Àrd’, this development will take place on a brownfield site at Charing Cross and involve the regeneration of Portcullis House. “Amidst the chronic undersupply of student housing in Glasgow, this development marks a significant step forward in addressing the demand for additional student accommodation, and also represents our commitment to creating sustainable homes in key regeneration areas,” said Iain Smith, planning director at Watkin Jones. Read the full story at DFT: https://lnkd.in/ewjFuE-k

A record-breaking month of activity in July has taken CapitalRise past the £400m milestone for cumulative originations. “Throughout the volatility of the past 12 months, our team has shown great flexibility, resilience, and creativity as they structured bespoke lending solutions to continue to serve our clients – and their efforts are reflected in these results,” said Uma Rajah, CEO and co-founder of CapitalRise. Read the full story at DFT: https://lnkd.in/eAzSH_mw

A planned merger between Redrow and Barratt Developments plc is progressing following a positive update from the Competition and Markets Authority (CMA). This update comes one day after the competition watchdog announced it would be servicing an initial enforcement order against Barratt Developments. Today (21st August), the CMA has published an update that there are “reasonable grounds” for believing that undertakings from the housebuilders might be accepted by the competition watchdog. Read the full story at DFT: https://lnkd.in/eKDhNtpp