We’ve worked with HGP on a number of residential property developments over the past few years, but we asked Colin Bennett, Investment Manager at HGP to tell us more about who they are and why they like working with Aldermore.
Colin tells us that “HGP work with a number of banks and debt providers across the UK and Aldermore have become a key partner over the past few years.” An example of this was working together to support Whiteburn Projects with the first phase of their Kirkcaldy development in Fife, Scotland building 35 homes that will breathe new life into the area.
Colin continues to explain “What we like about Aldermore is they really understand residential development and the challenges in this sector as well as how to support customers. They’re open and honest about how they approach new opportunities.
“They’re consistent so when we receive terms at the beginning of the process, they’ll remain unchanged throughout. We’ve had experience with other lenders that will change their term sheets following due diligence, but with Aldermore what you see is what you get, and they will always deliver on what they promise. This consistency is really important to give comfort to the borrower.”
We also spoke to David Whitehouse, property development manager at Aldermore, to find out why he likes working with HGP:
“HGP are a group of experienced people so from Aldermore’s perspective, to know they’ve looked over a deal and that it’s supportable with a good development and borrower, that knowledge that someone else with an experienced team have also done their due diligence and reached the same conclusions is comforting.
“As a joint venture partner in the borrowing process, their experience and access to funds provides further comfort to us about the transaction. Plus, if anything goes wrong along the way, they have a panel of leading industry experts around sales and construction that can offer advice to help overcome any problems.”
While our partnership has gone from strength to strength over the past few years, we both have great ambitions to take the relationship to new heights as Colin explains.
“We see this as just the start of the relationship, having worked on three sites so far with another three going through the financing process. We see Aldermore as a partner we want to be doing 10 – 20 sites with a year. We’ve had great success so far together in the North of England and Scotland, and we want to replicate this across other regions.”
To find out more about our Property Development Finance offering and how we could support your business, read more here: Property development finance or give us call on 0330 828 3434.