Banks and other lenders have broken away from the market, but at Hunter Finance we continue to offer our dependable services as providers of fast property development finance.
Where we offer property development finance
As a private development finance lender, we are based in Sussex and we only lend throughout the South East of England. This is key to what is currently happening to the property market.
In May, London’s house price growth steadied at 14% according to research from the Office of National Statistics. South East England house price growth remained steady at 13% during the same period of time.
What this shows us is that while the build up to Brexit provoked fear into the northern markets, the South East continued to prosper. This is also apparent in our own business. Financial applications for property developments actually increased for the month of June, despite the result of the EU referendum.
High housing demand promotes need for development finance
One thing was apparent from the enquiries we received. Since Brexit, many of the projects that have come to us after property development finance have been based around smaller houses, aimed at first-time buyers and your average family.
From what we can see of the market, the safe option for developers is to move forward with housing for normal people. Demand for housing in the South East is still higher than it has ever been. This is due mainly to the requirement for commuter homes for young families who want to escape the city, yet still have access to the capital.
With this in mind, the South East remains a property hotspot even as Brexit hits. Across the area, people are desperate to enter the property market. This makes the right house the right opportunity for any property developer and is one of the key reasons behind our continuation of offering development finance.
Property development finance goes full circle
Hunter Finance formed just after the financial crisis of 2008. We were inspired to offer development finance at a time when the banks weren’t lending. Providing a fast service to developers in need of development loans to continue their projects.
Over the years the banks returned to the market, providing complicated finance solutions on large development projects. Now, in light of Brexit, banks have abandoned the market once again, cutting developers off mid-loan.
That’s where Hunter Finance has stepped back into the same gap in the market as before, offering property development finance solutions to developers who are struggling with the bureaucracy of the banks.
Small developers are in trouble, not due to Brexit, but due to lenders pulling the plug. It’s time we looked after small business’ rather than push them away. That’s why we want to offer developers our services as fast property development finance lenders.