When LendInvest launched our development finance team back in December 2015, we wanted to do things a little differently. We wanted to offer real, tangible support to the developers we work with. We wanted to go the extra mile – literally.
Between December and October, a member of the development finance team at LendInvest visited every single developer that we have lent money to and their construction site. The team has travelled to all sorts of sites across England, including Birmingham, Bristol, Cheshire and Sussex, getting a closer look and feel for the different projects.
In total the team have travelled more than 2,500 miles in that time period – that’s enough miles to get from our office in London to Timbuktu.
Our development finance team takes a real interest in the developers we work with and their ambitious projects. They aren’t just a name on a spreadsheet to us – they are partners, and we strive to support them every step of the way until the development is finished. If that means taking time out to visit them on site, then that’s what we do.
Going the extra mile to support small developers
Heading out to see our developers at their sites is just one example of what we’re doing to help the small-scale development community.
In November we held the inaugural Property Development Academy, a two-day course designed to give would-be developers the skillset and guidance they need in order to make a success of their projects. Interest in the course was so high that it was eight times oversubscribed – further courses will be held next year to accommodate the applicants that couldn’t be included in the first course. There is also a comprehensive online Knowledge Centre filled with excellent resources which developers can make use of.
LendInvest has also committed to delivering innovative finance that will help developers deliver the homes the UK needs. Our new development exit product is a loan designed for developers whose project has reached practical conclusion but they have not concluded selling the units. It allows them to switch to short-term, lower-cost funding and was developed to help experienced developers move to terms that better suit them and ensure they maximise the profit opportunity from their projects.