Welcome to our autumn newsletter which will provide an update on what we have been up to over the last 6 months and what we are planning as we continue to grow and adapt to the increasing demands of our existing customers as well as welcome and establish new relationships from across England, Wales and Scotland.
It’s fair to say that a lot has happened in the period since our last newsletter, both internally and externally which makes for both interesting and exciting times.
A new Government has brought manifesto pledges which will no doubt be worked through and their consequential impact on the market and across the sectors will be something that we will all continue to monitor very closely and adapt to where necessary to help our customers grow.
In the meantime, rates have taken their first positive steps downwards, with the experts suggesting that more could be on the way. At the same time, yields continue to compress and rental incomes are being sustained across all main sectors of Real Estate Finance.
There have been suggestions in the market indicating that year to year investment volumes are up on 2023 figures with interest being particularly strong for Purpose Built Student Accommodation (PBSA) schemes and hotels, with a real demand for rooms, rooms, rooms- something we can clearly help with!
As a result of these long awaited, positive contributors, the bank is experiencing increased demand and business flowing through the doors. Customers are continuing to benefit from the close working relationships we offer to both our broker partners and the clients they introduce us to. We continue to listen to what is important to them, which allows us to adapt and expand our product range to suit, with competitive pricing to match.
We also have more feet on the ground with two new offices opened in key locations.
With lots to be proud of and talk about please feel free to reach out to one of our team otherwise check out where you will find us over the next four months with a full diary of award ceremonies, conferences and meet ups already lined up, but always time for coffee and a chat to see how we can help you and your important customers.
Jayne Follows
Head of Real Estate Finance
Helping female SME owners grow their businesses and reach their goals
Our research found that 59%^ of female SME owners feel that confidence has grown among female entrepreneurs, and revenue of female-led businesses has grown by 18% on average. We want to do our part to help keep confidence and revenues growing so we’re providing specialist support to help remove some of those challenges and barriers and help female SME owners access the funding they need to grow their businesses.
Find out more about what you can expect to see from our female founders initiative by clicking below.
^Research source, Cambridge & Counties Bank, April 2024. Based on 200 female SME business owners.
Fixed rate loans
We’ve launched a new product to help your clients strengthen their residential property portfolios with our limited period 5 year fixed-rate loan. Your clients can benefit from greater security for their property investments, knowing they have a reliable rate to depend on.
For further information on fixed rate loans, reach out to your local business development manager.
Unlock your client's cash flow with a VAT loan
The VAT payment on a commercial property purchase can make it tricky to manage cashflow. With our VAT loans, we can reduce the pressure on your client’s cash reserves by providing short-term funding for the VAT payment, so that all important capital can be used elsewhere.
The destination for student property finance
With rising demand for student accommodation, professional landlords have a significant opportunity to meet the housing needs of the UK’s student population while expanding their portfolios. We provide a comprehensive range of products for student accommodation, offering tailored financing solutions for both HMO and PBSA portfolios.
See our full offering along with key features and lending criteria.
Supporting the refinance of a North-West London residential portfolio
We recently assisted in a key North-West London residential portfolio refinance, with a 5-year fixed rate loan of £3.25m; underscoring our competitive edge and commitment to exceptional service.
This was a significant transaction which demonstrates the bank’s ability to compete against large, established funders and to trade on our reputation for providing a superior customer service.
Nick Cox, Relationship Manager at Cambridge & Counties Bank: ‘This transaction demonstrates that, by listening to what existing and new customers are looking for, we can (as a nimble and creative bank) review our product offering and position in the market accordingly. We expect to extend many similar residential refinances across London as 2024 progresses. The bank would like to thank our customer and also Richard Kirby and Rachel Coulthard for their excellent efforts’.
Pension scheme refinance
We recently had the privilege of collaborating on a challenging yet rewarding project involving a £600k pension scheme refinance, for a longstanding property investment customer. Their excellent internal track record with us dovetailed a desire to exit their previous lender and we put together a solution which worked for all parties. The client had an aspiration to complete within a specific timescale and thanks to the expertise and responsiveness of our Relationship Manager, Nick Cox, this was achieved.
Getting involved in our local community
Some of our property finance team had a wonderful afternoon in Manchester, joining forces with Kuits Solicitors for a community litter-pick. As part of a Green Team initiative and in partnership with Keep Manchester Tidy, we worked together to make the local environment cleaner and greener. It's wonderful to see our professional partnerships extend into meaningful community support.
A group of our colleagues took a well-deserved break from the office to help The Conservation Volunteers, dedicating their time and effort to help maintain a local community garden. This initiative not only provided essential support for the garden's upkeep but also reinforced our commitment to giving back to the community and fostering a greener, more sustainable environment.
New offices opened in Reading and Manchester as our teams continue to expand
The bank has consistently invested in both front-line and operational teams and with this growth, we are pleased to announce the opening of our new offices in Reading and Manchester. This move reflects our commitment to better serving our customers and partners across the UK, enhancing our regional presence, and supporting our continued growth in the real estate finance sector.
Catch up with our new Business Development Manager
As our team continues to grow, we thought it would be a great time to check in with Vicky Pearce, Business Development Manager for the Midlands, to hear about her first few months at the bank.
How have your first six months at the bank been?
Busy! I've really enjoyed getting to know everyone and touching base with existing and new broker connections. It's flown by so far and it's great to see such an array of different enquiries cross my desk, many of which we can find a solution to.
What are your priorities for the next six months?
Continuing to touch base with new and existing brokers, some of which I have had change to meet and speak with yet! Also looking forward to learning more from the vast amount of experience around me, which in turn will help me assist our brokers and customers even more.
What do you love most about your job?
Helping brokers and customers find that solution but also working with the team to make that happen.
What does the perfect Sunday morning look like to you?
It sounds crazy but I love getting up early so I can enjoy the day! I'd love to say that's to get to the gym but it's not so easy now with a toddler!
Out and about over the coming months
We have a busy year ahead attending exhibitions, awards ceremonies and industry events up and down the country. Here are a few of the upcoming events and we look forward to hopefully seeing you there!
- 15th October: National Landlord Investment Show
- 16th October: NACFB Funding Future Growth Regional Event, Leeds
- 16th October: LeasingWorld Gold Awards
- 8th November: Finance Professional Show, London
- 28th November: NACFB Commercial Lender Awards
Get in touch with our experienced team
For properties in Scotland, our minimum loan size is currently £500k, while for the rest of the country, it is £250k. We understand the unique financial landscape in Scotland and, subject to our standard lending criteria (which can be found on our website), we are open to discussions on tailoring finance solutions to meet specific requirements. For enquiries, please send us a message using the form below.