Coffer swellers

April 1, 2003
<i>Antler Homes, developers of &amp;“Stonedene&amp;”, Yorkshire (pictured), have built a strong relationship with funders which gives them the freedom to develop without extensive red tape</i><p></p><p><b>Money may make the housing world go round, but Andrew Leech finds that, understandably, funders take few risks</b><br><b>When Speed and security seem to be the financial buzz words when it comes to borrowing. But whilst there are lenders who can turn a loan offer around on half a sixpence, where risk management is concerned - especially on brownfield projects - they expect to have more than one finger in the development pie. And the latter doesn&amp;’t suit many housebuilders who otherwise prefer to remain in total control.</b><br> Sean Millgate, group finance director, of Antler Homes, says: &amp;“We have a very good relationship with our funders. We are allowed to run our business without too much effective control. What we expect is the most competitive loan to value ratio at an effective cost and not to be wrapped up in red tape.&amp;” </p><p> Antler is one of the UK&amp;’s faster growing housebuilders in a design-led niche market developing mainly brownfield sites. In the interest of risk management Millgate suggests it&amp;’s caveat emptor, and the only way any …

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