Building a patio is easy if you know how!
I couldn’t get away on holiday in May – so I decided I would build a patio in the back garden. It was hard work. I couldn’t get materials, didn’t have the right tools, got frustrated with levels and it took me a lot longer than anticipated. The result was ok but it was not as good as if I had given the job to someone who knew what they were doing!
Clearly building is not where my skill set lies. It is assisting SME developers with funding for projects. Having spent over 35 years in banking and Property finance I can honestly say it’s still hard work getting a deal across the line, even with experience, and it’s just got harder as we have limped through this year.
Criteria is a moveable feast and appetite is even more subjective. Pity therefore the developer who has to pick his way through the maze of options and lenders whilst dealing with sourcing opportunities, planning, procurement – and that is before anything has even got built!
The risk is that the funder who is best suited to a project is ignored or the proposal is lacking in presentation to give it the best chance of success – not because it is a bad scheme but because finance is not necessarily the developer’s skill set.
Like my patio sometimes it is best to employ someone to do the job. And for all those doubters here is a photo of the patio!
Dave Rainford is Property Finance Director at Cowgills and MD of PMJ Capital. He works with property developers and investors in an advisory capacity assisting them to structure debt for residential and commercial schemes, property acquisitions and bridging. David draws on over 25 years banking experience and contacts with the property finance sector presenting proposals to funders, negotiating terms and most importantly getting deals over the line.
If you would like to contact Dave directly email email@example.com
The information was correct at time of publishing but may now be out of date.