As lockdown eases and the reality of Brexit settles in, there has been unprecedented levels of demand for building materials.
While the notion of lockdown ending is great news, this increasing demand means we are seeing an ever growing number of our borrowers experiencing delays. This is either from short supplies or simply no stock while Brexit causes delays through ports and shipping container shortages. This demand inadvertently causes an increase in prices, with the Office for National Statistics suggesting a rise of 7-8% in material prices, with specific materials expected to more than double in price within the next year,
These delays and increase in price can be detrimental to developers’ projects, missing lender deadlines and completion dates. In light of this, we wanted to reassure our borrowers that when this was first emphasised during the first lockdown, we stood beside our borrowers; this isn’t going to change. We are a flexible lender and we want to ensure that our borrowers both have the time and funds they need to complete all their projects to a high standard. During Covid, we were able to support all our borrowers and extended on several loans. We are in a fortunate position whereby if you require more funds, it is always a conversation we are willing to have.
So no fret, we are here every step of the way for our developers needs and queries. Get in touch today by clicking the ‘Apply Now’ link at the top of the page. We look forward to hearing from you!
