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Lending Criteria

Lending Criteria

by | Aug 5, 2019

Loan terms negotiated on merit

Each loan application is assessed and negotiated on its individual merits but the following general criteria will apply:

Borrower:

  • Experienced house builders and property developers
  • Demonstrable track record of building and selling similar developments.

Types of development:

  • Residential development schemes
  • Houses, flats, new build, conversions, office to residential, mixed use and property with a commercial aspect
  • Commercial development considered
  • Sites of 1-100 units, larger transactions considered
  • Sites located across the UK in areas with established demand for new homes

Financial parameters:

  • Loan facilities range from £1 million to £15 million, larger loans considered
  • Ability to roll-up interest
  • Loans are secured by property/site
  • No restriction on the number of units
  • Borrowing term for the duration of the development typically up to 24 months
  • Rates negotiable on complexity and debt quantum
  • Up to 75% of Gross Development Value including rolled up interest
  • Up to 90% of project costs including rolled up interest

Lending strategy

BLG’s lending strategy is simple: we provide a secure source of funds to experienced house builders for the purchase of land and the construction of new housing.

Underwriting

Each loan application is assessed on its individual merits. Because every member of our lending team is well experienced in their role, we are able to work quickly and efficiently to meet development project deadlines.

Our underwriting process involves a detailed analysis of each development project. We make no apology for wanting to fully understand your new property product, your market and the key risks and opportunities presented in any given development proposal. And we do this at the sharp end, on site with your building team, your architects, engineers, sales and internal management group. We then supplement our in-house analysis with specialist reports analysing construction costs, ground conditions, environmental aspects and critical sales values and project time frames.

Structuring the development finance loans

We structure the development financing to accommodate the transaction’s features, ensuring that the obligations, rights, responsibilities and performance requirements are clear for each and every party. These obligations are then carefully documented with contracts and security executed and registered.

Transactional monitoring and reporting are vital aspects of development funding and our surveyor will visit the development at least monthly to review progress, benchmarked against budgetary projections. Our relationship team also visit each site regularly to check progress, updating and re-analysing sales projections and timetables.

Supporting housebuilding, partnering with you

We lend on sites across the UK.  Every BLG property developer is allocated their own dedicated Regional Director to ensure the best service is provided at every stage of your project build. You will also have the benefit of support from our experienced head office team.

 

Our business is helping you build

Team BLG

by | Jun 3, 2019

The Team

Stuart Parfitt

Stuart Parfitt

Managing Director 01483 96 71 80 [email protected]
Cécile Verroest

Cécile Verroest

Risk Director 01483 345 431 [email protected]
Perry Kurash

Perry Kurash

Director – Head of New Business 07879 472 205 [email protected]
Anil Bains

Anil Bains

Director 01483 345 435 [email protected]
Jane Kime

Jane Kime

Head of Credit Operations 01483 345 463 [email protected]
Tom Pitts

Tom Pitts

Director of Origination 07864 923 656 [email protected]
Ivy Huang

Ivy Huang

Head of Marketing 01483 345 441 [email protected]
Justin Friend

Justin Friend

Head of Valuation 01483 345 448 [email protected]
Abigail Monk

Abigail Monk

Finance Manager 01483 345 437 [email protected]
Michelle Chan

Michelle Chan

Operations Assistant 01483 345 409 [email protected]
Sidorela Taylor

Sidorela Taylor

Portfolio Manager 01483 345 460 [email protected]

About BLG Development Finance

About BLG Development Finance

by | May 31, 2019

Initially established in 2003, BLG is a principal lender specialising in residential development finance.

We offer residential and commercial development finance, bridging loans, and the Growth Guarantee Scheme (GGS) supported by the British Business Bank. We also work with a range of intermediaries.

We provide these loans to house builders and developers with projects across the UK.

Our dedicated team has more than 300 years’ combined management experience gained in real estate banking, investment houses and financing companies.

We are responsive, proactive and solutions driven, in short, “Our business is helping you build”.

WHAT OUR CUSTOMERS SAY ABOUT US

"A challenging site like no other with every inch of the plot being built on and 12 apartments built-out through a driveway 2.5m wide off of a main high street with limited access rights, not to mention all the complexities associated with 13 Party Wall Agreements. Most lenders would not have had the vision for the scheme or the confidence in Spiller Builders to build out the scheme.  I just wanted to say how helpful the entire BLG team have been during the build. A very approachable and knowledgeable team, with a “can do” approach to lending. We will be looking to do more business with you for sure."

“We have used BLG for development finance for over 8 years. During that time we have found their knowledge and expertise in the property development industry to be second to none. Their loan process, pragmatic and flexible approach to lending and flexibility when required has supported our business needs throughout the period and provided us with support to deliver new homes in Bristol and the surrounding areas.”

“As property developers you never know the curve balls that you may get and a project that is great on paper may prove a bit more tricky.  This happened to us on a project that BLG have funded and throughout they have supported us.  Our business likes to be collaborative and when we hit those tough moments it really felt like we were working as a team with BLG.  If you have a decent project you can get it funded, but what you really need is a business that is there to support and advise you as well.  For us on this project it was BLG.”

“I approached BLG Development finance with an opportunity I had in Chesham, Buckinghamshire, to build 5 new build houses in 2021. My main contact was Anil Bains who is a Director covering Asset Management. Within very quick timescales, BLG provided me with indicative quotes in regards the finance levels they could offer me. Having considered those levels, I requested a valuation to be carried out which again was dealt with swiftly. We proceeded to completion. The build went very smoothly with monthly monitoring being carried out by BLG and monthly drawdown requests dealt with in a very timely manner. Due to a difficult time generally in the market in regards selling, I was in need of a six-month extension to the loan which again was appraised very quickly and granted. Having dealt with numerous funders over the last 20 years, I can only speak highly of my personal experience with BLG and would very confidently work with them again on any future projects. “

"From our side it has also been a pleasure working with BLG and the team there. We have found you easy to deal with, proactive in resolving any minor issues that have arisen through the project and shown great flexibility in working with us as a partner. We will certainly like to work with you on future partners."

“I really appreciate your hard work. We really like the way you communicate & I must say I haven't seen many people who are that approachable.”

“A very efficient processing team, dealing with the DD once deal credit approved, through to completion”

“Many thanks for your efforts on this one and getting it approved and sorted so swiftly, very much appreciated. I am sure I will be speaking to your over the coming months.”

“We had other funding options, but chose to use BLG again, as we work well with the team, who always provide very clear information and advice with a friendly approach throughout the funding process. Very efficient and always very helpful.”

“Many thanks Anil, it’s been a real pleasure working with BLG so far.  We’re lining up the next project too”

“We would recommend all staff we have dealt with at BLG, as we are very satisfied with the team and the initial offer/terms presented, then you and the funding team, through to the draw down team at valuation stage.”

“All documents are clear and the way you keep clients informed, all the way along the funding process, is refreshing for us”

“With regard to what should be improved at BLG, we work with many lenders in our business and we do not get the help and response we have had on the two projects with all at BLG on our funding for our developments.”

“We would particularly mention Dave Edwards and Tom Pitts as being central to having a smooth working relationship and being positive and helpful at all times. Their guidance in helping us navigate the project from inception to completion was invaluable. As was their patience, particularly at the beginning. We look forward to many future projects with the BLG team.”

“We would like to express our appreciation for your support on our development in Bristol. We were very pleased that, from the outset, you shared our vision of the project to convert a dated but classical building, that had outlived its usefulness as a school, into unique luxury apartments with views overlooking the city. We found our dealings practical and streamlined. Monthly payments were processed in an efficient and timely manner.”

“BLG are very good at communicating with clients and all documents are very clear and all at BLG are always happy to help.”

Tell Us How We Can Help
Call Now

How We Lend

How We Lend

by | May 28, 2019

At BLG we have just one focus, providing loans for property developers. Our team has more than 200 years’ combined experience in property finance – we fully understand the process of property development and the financial needs of house builders.

How To Borrow Money For Property Development

We are often asked How To Borrow Money For Property Development? The answer is that we work closely with our customers; we support them every step of the way in order to provide them with loans to build their refurnished or new build housing. The funding process for new customers usually begins with an enquiry to our head office via 0845 465 6500 or to [email protected]. From this initial call, we will take basic details of the scheme to be funded, the location, the time line and the new customers’ contact information.

Putting you in touch with your local BLG lending expert

When funding new developments, we believe it’s important that our team has local knowledge of the area in which the scheme is being built. That’s why we employ a national team of lending experts who are based across the UK. That way, if a developer from Leeds talks to us about a multi-unit office to residential refurbishment, there will be a BLG Regional Director based close-by with knowledge of the location and the demand for that type of housing. Using this approach means we can best support regional developers and provide them with a lending decision quickly.

How to find funding for property development

Finding a loan for property development can be tricky, especially for smaller / SME housebuilders and developers. BLG has an established process developed over many years to help the application for property development financing run smoothly. If you are seeking money to develop property, we will put you in touch with your local BLG lending expert. They will discuss the lending process with you and outline the funding options available. For example we can provide a variety of development finance funding options: stretched senior development finance and mezzanine development finance.

Arrange a loan for property development

To arrange property development finance and be put in touch with your nearest BLG Regional Director, please call 0845 465 6500 during business hours or email [email protected]

Careers with BLG

Careers with BLG

by | May 28, 2019

Careers

At BLG we embrace diversity but each member of our team has the common traits of extraordinary drive, talent and passion for what they do.

We are looking to expand our team over the next 12 months. If you are a high performing professional with development finance experience, please send your CV and covering email in confidence to [email protected]

Graduate programmes & internships

From time to time we offer internships to people starting out in Development Finance or Investor Funds, please send your CV and covering email in confidence to [email protected]

WHAT OUR CUSTOMERS SAY ABOUT US

"A challenging site like no other with every inch of the plot being built on and 12 apartments built-out through a driveway 2.5m wide off of a main high street with limited access rights, not to mention all the complexities associated with 13 Party Wall Agreements. Most lenders would not have had the vision for the scheme or the confidence in Spiller Builders to build out the scheme.  I just wanted to say how helpful the entire BLG team have been during the build. A very approachable and knowledgeable team, with a “can do” approach to lending. We will be looking to do more business with you for sure."

“We have used BLG for development finance for over 8 years. During that time we have found their knowledge and expertise in the property development industry to be second to none. Their loan process, pragmatic and flexible approach to lending and flexibility when required has supported our business needs throughout the period and provided us with support to deliver new homes in Bristol and the surrounding areas.”

“As property developers you never know the curve balls that you may get and a project that is great on paper may prove a bit more tricky.  This happened to us on a project that BLG have funded and throughout they have supported us.  Our business likes to be collaborative and when we hit those tough moments it really felt like we were working as a team with BLG.  If you have a decent project you can get it funded, but what you really need is a business that is there to support and advise you as well.  For us on this project it was BLG.”

“I approached BLG Development finance with an opportunity I had in Chesham, Buckinghamshire, to build 5 new build houses in 2021. My main contact was Anil Bains who is a Director covering Asset Management. Within very quick timescales, BLG provided me with indicative quotes in regards the finance levels they could offer me. Having considered those levels, I requested a valuation to be carried out which again was dealt with swiftly. We proceeded to completion. The build went very smoothly with monthly monitoring being carried out by BLG and monthly drawdown requests dealt with in a very timely manner. Due to a difficult time generally in the market in regards selling, I was in need of a six-month extension to the loan which again was appraised very quickly and granted. Having dealt with numerous funders over the last 20 years, I can only speak highly of my personal experience with BLG and would very confidently work with them again on any future projects. “

"From our side it has also been a pleasure working with BLG and the team there. We have found you easy to deal with, proactive in resolving any minor issues that have arisen through the project and shown great flexibility in working with us as a partner. We will certainly like to work with you on future partners."

“I really appreciate your hard work. We really like the way you communicate & I must say I haven't seen many people who are that approachable.”

“A very efficient processing team, dealing with the DD once deal credit approved, through to completion”

“Many thanks for your efforts on this one and getting it approved and sorted so swiftly, very much appreciated. I am sure I will be speaking to your over the coming months.”

“We had other funding options, but chose to use BLG again, as we work well with the team, who always provide very clear information and advice with a friendly approach throughout the funding process. Very efficient and always very helpful.”

“Many thanks Anil, it’s been a real pleasure working with BLG so far.  We’re lining up the next project too”

“We would recommend all staff we have dealt with at BLG, as we are very satisfied with the team and the initial offer/terms presented, then you and the funding team, through to the draw down team at valuation stage.”

“All documents are clear and the way you keep clients informed, all the way along the funding process, is refreshing for us”

“With regard to what should be improved at BLG, we work with many lenders in our business and we do not get the help and response we have had on the two projects with all at BLG on our funding for our developments.”

“We would particularly mention Dave Edwards and Tom Pitts as being central to having a smooth working relationship and being positive and helpful at all times. Their guidance in helping us navigate the project from inception to completion was invaluable. As was their patience, particularly at the beginning. We look forward to many future projects with the BLG team.”

“We would like to express our appreciation for your support on our development in Bristol. We were very pleased that, from the outset, you shared our vision of the project to convert a dated but classical building, that had outlived its usefulness as a school, into unique luxury apartments with views overlooking the city. We found our dealings practical and streamlined. Monthly payments were processed in an efficient and timely manner.”

“BLG are very good at communicating with clients and all documents are very clear and all at BLG are always happy to help.”

Tell Us How We Can Help
Call Now

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