As an experienced short-term property finance provider, one of Signature’s key strengths is its ability to build healthy relationships with brokers and developers alike, impressing clients through a steadfast commitment to efficiency and quality.

It’s this attitude that has allowed them to establish a strong reputation for their reliability and professionalism, retaining high-profile clients as a result. No matter the industry, the importance of building a loyal customer base cannot be understated, as it helps create stability that can quickly develop into a long-term culture of growth and momentum.

The benefits of nurturing healthy relationships were recently felt first-hand, after Signature was introduced to a Milton Keynes developer by a broker they had previously met. Well placed within the community, the broker had already provided Signature with a steady stream of enquiries, six of which had come in the last 12 months.

Having agreed and verified a purchase price of £190,000, the client required a gross loan of £133,000 to acquire a three-bedroom property, with a view to renovating it into a six-bedroom HMO, pending planning approval. However, a refusal of consent would not cause the project to collapse completely, with a backup plan to convert it into a five-bedroom HMO in place.

Given that the secondary plan would have no structural impact on the property and did not require a HMO license to achieve, it was deemed to be a strong alternative in any event. As such, Signature’s thorough calculations were carried out under the assumption that planning consent would be refused, and even still, found that it was still well within the parameters to be refinanced onto a B2L following refurbishment and relet.

Located within walking distance of shops and other key amenities, the subject property has strong links to the A1, providing easy access to London and the North of England. Having secured 21 viewings and 6 offers during its time on the market, the demand for the property was clear to see, further adding to the project’s potential.

With this in mind, it was vital that no time was wasted in conducting the necessary background and credit checks, ensuring the developer had the means to carry out the development within the time and budget requirements outlined.

Once all the checks had been complete, Signature were happy to confirm a £133,000 development loan on a 12-month term – more than enough time for the developer to learn about planning permission and complete the planned renovation, before refinancing onto a B2L.

Bob Stones, Relationship Manager at Signature Property Finance, commented:

“Once again, we have seen first-hand how our commitment to building and maintaining strong broker relationships is paying dividends long-term.

“Whilst it’s always nice to strike up new relationships and attract different clients, nothing speaks to your reputation better than the ability to retain clients or be repeatedly recommended by an individual that has seen the support being provided.

“This continued success stems from our ability to understand the true potential of a project, working tirelessly behind the scenes to give developers the financial support needed to move forward and achieve their objectives.

“As always, I’d like to thank the broker in question for the trust and support they have shown Signature in recent years – we’ve enjoyed a very fruitful relationship throughout this year and long may it continue throughout 2024 and beyond.”

The developer said:

“Going into this deal, we had heard a lot of positive things about Signature and their approach to short-term property finance, in particular, their in-depth understanding of all aspects of the property market.

“Thankfully, they lived up to all of these expectations and more, supporting us throughout the process to agree a deal on suitable terms – even without the confirmation of planning permission, which could have made arrangements more challenging.

“Based on this experience, it’s clear to see why they are so highly rated amongst brokers and developers, and I’d highly recommend their services to other developers in a similar position.”