Blend Network recently released its first annual Predictions in Development Finance report.
Set out in this report is an analysis of “the challenges and obstacles, but also the opportunities within the market,” the team at Blend Network noted in a blog psst.
The development finance specialist lender has examined how the market has “changed and what impact Covid-19 will have now and in years to come.” They also evaluate how they need to “respond to meet these challenges and capitalize on the opportunities.”
As you review this update, you will “appreciate that many of the challenges to grow and enter this market disproportionately impact the small-scale SME developers who are finding it increasingly difficult to compete with larger Plc developers.”
The market is going green, the report noted
Blend Network also mentioned:
“The next decade will be crucial for protecting the planet for future generations. Financial services, particularly specialist digital non-bank development finance lenders, have a critical role to play by helping deploy the financing of the changes required. Our first top prediction is for the development finance market to become greener in 2022 and specialist digital non-bank lenders to play a key role in the transition to a greener economy.”
Increased transparency “is welcomed…”
The report added:
“Borrowers have grown increasingly sophisticated in recent years, demanding value and added transparency. Our second top prediction is for the development finance market to witness a gradual shift towards greater regulation and more transparency in 2022, particularly around financial promotions and treating customers fairly.”
(Note: You can check out the full report here)
In a separate update, Blend Network revealed that they are pleased to welcome seasoned property and finance expert Chris Mason as Lending Director to their lending team.
Chris, who will be based in Cambridgeshire, will help them to “deploy a large pool of funding recently committed by several family offices and a group of prominent investors.”
His appointment will help the firm with expanding its “fast-growing” regional footprint. The news comes “at an exciting time and follows [their] recent completion of an equity funding round led by several notable family offices and experienced investors who also committed funding to deploy across the UK residential market, and [their] recent launch of a new 75% LTGDV high-gearing product.”
Chris reportedly has more than 40 years of experience in banking and finance “across both high street and specialist finance providers.”
His recent position was as Relationship Director at Assetz Capital where he “focused on providing specialist development finance to residential and commercial schemes across the UK.”
Previously, Chris was a corporate account manager with Handelsbanken where he “worked on large-size deals of up to £100m including commercial mortgages, commercial property development, residential development facilities, syndicated facilities, and trade finance.”
Chris’ multi-decade real estate and banking career “includes roles within the property development lending teams at Bank of Scotland and Barclays.”
Yann Murciano, CEO at Blend Network, stated:
“We are delighted to welcome such an experienced property finance professional as Chris to our growing senior lending team. Chris has a breadth and depth of experience across the real estate and finance sectors, as well as extensive regional expertise, which will significantly help us scale our loan book. Furthermore, Chris’ mindset tightly aligns with ours at BLEND Network in that we want to do the deal. Chris’ appointment will help us expand our broker community and ultimately deploy our abundant cash.”
Chris Mason, Director at Blend Network, remarked:
“I am very pleased to be joining BLEND Network at such an exciting time. The company has already gained recognition as one of the most solid and trustworthy specialist development finance lenders. Its business model, strategy, flexible and safe source of capital, and risk appetite offer experience property developers flexible, secured funding. I believe the company has a great future and I look forward to playing a strong role in its expansion and success. Even after 40 years in the industry, I remain hungry to do business with clients both old and new”.