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BLG appoints Anil Bains as Director of Asset Management

BLG appoints Anil Bains as Director of Asset Management

by | Feb 6, 2018 | Press Release, Staff Appointments

Development finance lender BLG appoints Anil Bains as Director of Asset Management

Business Lending Group (“BLG”), the specialist development finance lender, today announces the appointment of Anil Bains as Director of Asset Management. Due to business growth, this new role has been created to service the growing demands on BLG’s Credit Team.

Anil originally joined BLG in April 2014 as Credit Operations Manager.  Prior to this, he was a Project Manager for EC Harris.

Cécile Verroest, Risk Director at BLG, said: “I am delighted with Anil’s promotion which reflects the growing role he has taken on in our organisation.  Anil will now be responsible for all our construction monitoring and disbursements; he will communicate on all construction related matters with our customers and stakeholders.”

Anil Bains, Director of Asset Management at BLG, said: “Having worked within BLG’s Operations team and closely with Cecile for the last 4 years, this promotion means a lot to me.  BLG has an exciting future ahead and 2018 will be a busy year for myself and the team.

With the number of developments BLG funds growing each month, my focus will be to ensure that our high level of service and communication is maintained with our clients and that the first-class construction monitoring of our developments continues.”

Stuart’s blog, Feb 2017: The future of estate agents

Stuart’s blog, Feb 2017: The future of estate agents

by | Feb 28, 2017 | Latest News, Press Release

 

Disruptive Technology, Can the High Street Estate Agency Survive?

Outside of work I don’t usually spend time thinking about technology, I’m a bit of a luddite really. I know vinyl records are back – but for me they never went away!  Recently, a couple of things have prompted me to think that the high street estate agency model might be staring into the abyss.

 

Online estate agencies have been pushing hard on TV advertising and becoming better known by the masses. Their fixed fee model is extremely attractive to the average home seller who can save hundreds of pounds on what is likely to be the largest financial transaction most people undertake.

 

However, the established thinking, and a view I have always shared, is that whilst high street agents charge more commission than the flat fees of online agents, the high street agent earns their fee by added sales value. Unlike online agents, high street agents have the advantage of local knowledge, they can advise sellers how best to present their property to maximise value and they organise viewings.  To challenge the rise of the online agent, in 2015 a consortium of well-known high street estate agents joined forces to launch OnTheMarket.com, a home sales platform not accessible to the purely online estate agents.  But has it worked?

 

There is a second change in the wind which starts to challenge my long-held view. Recently a local Property Consultant has door-stepped my home proposing to “advise on presenting the house for sale or letting”. Again, it’s a fixed fee proposition, and a modest fee at that, from somebody working independently with low overheads (basically a car, a camera, a laptop and their knowledge).  Could these lower priced consultants combined with online sales rival the high street estate agency model?

 

Twenty years ago, most high streets had two, three, maybe four travel agents. Apart from just a few niche providers, high street travel agents are a thing of the past, online has taken over.  My feeling is that the high street estate agency model has value but it is under pressure and must evolve to survive.

 

Proud to have funded the development of 1000s of new properties

Proud to have funded the development of 1000s of new properties

by | Feb 8, 2017 | Latest News, Press Release

We are proud to have funded the development of 1000s of new properties across England, Scotland and Wales. The table above shows just some of the projects BLG has supported recently.

Interested in funding? Talk with BLG
We offer fast and flexible property development finance for professional developers; our expert team welcomes the opportunity to discuss your next development.

To be put in touch with your local BLG Regional Director, please call 0845 465 6500 or [email protected].

Thank you.

Peter’s blog: Fast finance arranged to save the scheme

Peter’s blog: Fast finance arranged to save the scheme

by | Nov 25, 2015 | Latest News, Press Release

Pulling out all the stops to save a developer’s scheme
BLG are particularly proud to step-in to save a fantastic four apartment development on the south coast. The developer was pioneering a new closed-panel timber frame system constructed by a European based offsite manufacturer. To fund the project, the developer’s broker had arranged finance of £3 million, comprised of a senior loan ‘topped up’ by a mezzanine loan. Frustratingly for the developer, the senior lender was dragging its heels and putting the project at risk, so his broker called BLG for help.

BLG arranged senior development funding within 2 weeks, mezzanine within 2 days…
BLG empathised with the situation and took up the challenge. In a matter of days BLG had visited site and met with the developer. A funding proposal was submitted to BLG’s credit committee and senior funding was made available within two weeks of the initial call from the broker.

Just when the developer thought the project would be (relatively) plain-sailing from that point on, the mezzanine lender providing the ‘top up’ loan let them down. Within just two days BLG were able provide the additional mezzanine funding required, meaning the developer could progress with his build.

And BLG? They believe it’s the tricky development schemes and the challenging circumstances which allow their team of property development finance experts to do what they do best. After all, as BLG’s tagline says, “Our business is helping you build”. Nothing makes them happier than funding projehttps://blgdevelopmentfinance.co.uk/products/development-finance/cts and helping developers realise their schemes.

What the developer had to say…
“I have been nothing but impressed with all personnel at BLG; from the top down, everyone was extremely efficient and bent over backwards to help. We are using a unique form of closed-panel timber frame construction and were pleased that BLG were interested in what we are trying to do, they believe in our thoughts that the system we are using could be the future of UK construction.

I am extremely impressed by the speed of lending decisions made by BLG. Everyone else pales into insignificance when it comes to senior development funding. Other lenders were taking months to reach their decision but BLG provided funding within two weeks. And the mezzanine funding was arranged within two days, which is an awesome achievement. All aspects of the funding process with BLG worked well, especially the speed of the underwriting – they truly wanted to help.

I was an investment banker and know good service when I see it. I also repay great service with loyalty and am already in discussions with BLG for the funding of a number of new sites, involving senior, mezzanine, pure equity funding. We intend to build our business alongside BLG and look forward to working with them on our future developments.”

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