KCS and I have worked alongside dozens of industry and alternative lenders to provide the highest levels of service throughout all the transactions we’ve been in involved with this year. In 2019 we saw a tremendous shift in lending, with Brexit negotiations creating a cautious market. We also saw the bridging finance market become extremely competitive as one of the most popular forms of finance for properties. Fortunately, the expertise and experience we have within the industry enabled us to navigate market changes, ensuring our transactions never slowed down and our clients’ transactions were completed.
2019 saw myself and KCS grow from strength to strength, establishing ourselves within the market as best-in-class debt brokers. We built strategic partnerships with multiple lenders to futureproof our service offering with regards rising appetite and competitive pricing. I was able to secure and complete debt transactions amounting to over £26m during the course of the year. This consisted of a mixture of residential acquisitions, commercial refinances and development finance.
We continued to strengthen our external network, connecting with all types of professionals involved within the industry, including hedge fund managers, solicitors, accountants and more. At KCS, we ensure that our market knowledge and insights are on point, giving us the edge when it comes to securing the most competitive terms for our clients. We have a strong relationship with many professionals who not only introduce new clients to us, but also assist with our existing clients.
One of the most challenging transactions I completed last year took place over the Christmas period. Introduced via a newly acquired contact the client needed to refinance a vacant former office block, which had planning to convert to 98 residential units. It had been to a number of brokers who were unable to deliver; subsequently KCS was the client’s last hope. Amongst other challenges, completion needed to be achieved within 3 weeks of receipt. We were able to complete a £5.3m bridge with a lender who we knew was able to operate through the festive period. We were also able to introduce the clients to legal representation from the panel of law firms we work with, which was just another example of how our relationship management came full circle.
Market volatility meant that we needed to ensure we kept our clients’ options open. We experienced a high level of uncertainty at late stages with some lenders, which meant that KCS and I needed to act fast to avoid costing the client time and money.
2020 has started well with a number of our panel lenders indicating positive appetite for property lending. This market is seeing increased competition with rates coming under pressure and LTVs increasing. Our core aim for the year ahead is to maintain and further develop our industry relationships, ensuring that we remain best-in-class for all property debt requirements. I know I speak for all at KCS, when I say that we look forward to assisting new and existing clients with their lending requirements this year.
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