Talking to brokers about development finance they repeatedly tell me that high street banks tend to find more reasons not to lend than they do to lend. This has meant that brokers are having less confidence in placing this type of business in the high street.
Brokers also tell me that this is an opportune market and they will not be deterred by the attitude of the high street banks.
One bank that has stepped up to the breach is the United Trust Bank. They have openly stated that they increased funding in order to support developers. Development finance is another area where bridging loans can feature in securing a deal for a developer whilst they wait for all the links in the chain to come together and funding to be put in place.