The BCF Lunch - What People are Saying

Warren Burnett, Iris Homes - "Just thought I would drop you a quick note to thank you for the recent luncheon you arranged. It was as very enjoyable as usual and Café Shore are excelling themselves in the meal they have provided on the last couple of occasions. I consider this regular luncheon to be an excellent networking opportunity for people in our field. And I have to say that I always look forward to the highlight of your speech!!"

Jay Coleman, Intelligent Land - "Having moved to Dorset 12 months ago I’ve found the BCF Lunches to be one the highlights of the Bournemouth Property networking scene. The event attracts a wealth of professionals directly and indirectly related to the Built Environment disciplines. Attracts a particularly high calibre of local professionals, the opportunities to generate business and develop new contacts are plentiful. The dinner’s themselves are held in tasteful surroundings, like Sandbanks’ Cafe Shore where the food is lovely, the company exquisite and the whole event; mature, relaxed and altogether very valuable".

Julian Alahakoon, Farnfields Quality Solicitors -"I have attended many of the BCF lunches over the last two years. I find the lunches to be a useful opportunity to meet fellow professionals in a relax and enjoyable environment. I usually take a guest or two who always meet useful contacts. I look forward to attending many more of these excellent networking lunches".

Steven Neal, Kingston Smith LLP - “BCF Lunches offer a real alternative to the standard networking event. They are designed to allow longer informal discussion amongst a large number of guests in a relaxing atmosphere. Attendees know the value of spending that extra quality time with new acquaintances that engenders long lasting and profitable business relationships. A priority must attend in my diary!”

Carlie O’Neill, Tanner & Tilley Town Planning Consultants - “ The BCF lunch club is a must attend event for anyone in the property industry. The lunch is purely property focussed and out of the events I attend this is the one where I meet a lot of quality contacts. I have been attending the lunches for three years now and rarely miss an event. The atmosphere is relaxed and the food at Café Shore is always lovely.”

Jonathan White, Align - "BCF always manages to attract a good attendance to its lunches; well worth sparing time to meet existing acquaintances and to make new contacts".

Really Fast and Easy Finance for Developers

Our private funding partner is awash with funds following successful completion of projects in the summer.

This means they want to lend money on developments in the central south and fast.

There is no credit committee or RICS valuation to wait for.  Decisions are made within hours by the directors and the valuation is carried out internally.

The average time taken from enquiry to pay out is 2-4 weeks and we can get 100% of build with interest roll up on the right projects.  We can access this money and manage the process for the developer whilst they organise the build out.  All enquiries considered but £200,000 to £900,000 preferred.

Get in contact NOW for quick and easy finance or pass our details on to someone you know that would benefit from this great opportunity.

For a free, no obligation chat, please call 01202 656100 or email dave@bcfbusiness.co.uk

The BCF Lunch - Photos and Feedback

A thoroughly enjoyable BCF lunch took place at Cafe Shore last Friday. To view the photos, please click the following link: http://seekerphoto.zenfolio.com/p71183857

A sum of £374.28 was raised in support of Warren Munson's chosen charity, Diverse Abilities Plus.

Our new survey facility now enables us to share some of the feedback and what actions we are taking as a result.

"Property is the link for everyone. Could we have a 5 minute update on our own area, perhaps an additional speaker". We will be looking to implement this from November.

"As the event is well established, there are a large proportion of people that already know each other well and so for new people coming on their own who don't know anyone, I think it is quite hard to break into those established groups". From November we will take account of newcomers in the seating plan and ensure that they are in the company of experienced networkers who will facilitate introductions and make new guests feel welcome.

It did not go unnoticed that car parking at Sandbanks borders on extortion. We note that from October to April charges are reduced to £2.00 for all day. By next summer we hope to have taken the issue up with Cafe Shore and the Borough of Poole.

If you have any further comments, they are always welcome. Overall we were delighted at the generally warm and generous feedback.

Our next lunch is on Friday 30 November, invitations will be out shortly.

How to develop with only a 10% cash stake!

BCF Call us now on 01202 656100 Develop with only a 10% cash stake!

Projects funded to 90% of costs

Great news for property developers - mezzanine to 90% of costs BCF are delighted to have launched their flagship development package.  This facilitates funding for 90%, yes NINETY PERCENT,  of the costs of a residential development project.  If you qualify this means that you can develop with only a 10% cash stake!  As a result you can develop more sites simultaneously and make more profit. The scheme marries senior debt with a fantastic mezzanine package which is flexible with the top slice being a minimum of £100,000 which means that a higher proportion of senior debt is practicable. This in turn reduces the overall interest costs. The scheme is open to experienced property developers building houses or flatted schemes in Southern England and the Home Counties. To discuss a potential deal or for a general chat, call 01202 656100 For Example Below are six current development projects which give a good general overview of our mezzanine lending.  We fund up to 90% of costs but we do require the developer to put in a minimum of 10% of the costs.  On this basis we can provide up to a maximum of 70% of completed end value.  The 70% being the combined totals of the bank facility and mezzanine loan.  6 Flats Projected end value        £1,239,000 Development cost           £1,017,300 Senior debt                         £713,000 Developer’s equity              £125,000 Mezzanine                          £159,000 Gross profit                         £221,700 Less mezzanine                    £54,500 Net to developer                  £158,200 Net % to developer                  71% % return on equity                  126% 4 Townhouses Projected end value          £1,680,000 Development cost             £1,388,500 Senior debt                           £920,000 Developer’s equity                £150,000 Mezzanine                            £243,000 Gross profit                           £292,000 Less mezzanine                      £81,000 Net to developer                   £211,000 Net % to developer                   72% % return on equity                   140% 5 Flats over Retail Projected end value            £2,365,000 Development cost               £1,715,500 Senior debt                         £1,022,500 Developer’s equity                 £170,000 Mezzanine                             £483,000 Gross profit                            £649,000 Less mezzanine                     £141,000 Net to developer                    £508,500 Net % to developer                    78% % return on equity                   298%   4 Houses Projected end value             £2,280,000 Development cost                £1,798,500 Senior debt                          £1,081,000 Developer’s equity                  £269,500 Mezzanine                              £407,000 Gross profit                             £481,500 Less mezzanine                      £127,000 Net to developer                      £354,500 Net % to developer                     74% % return on equity                     131% 11 Flats Projected end value                £3,232,500 Development cost                   £2,642,000 Senior debt                             £1,760,000 Developer’s equity                     £270,000 Mezzanine                                 £504,000 Gross profit                                £591,000 Less mezzanine                         £189,000 Net to developer                         £402,000 Net % to developer                        68% % return on equity                       148% 10 Flats over Offices Projected end value                 £4,135,000 Development cost                    £3,332,000 Senior debt                              £1,958,200 Developer’s equity                      £666,500 Mezzanine                                  £565,000 Gross profit                                 £803,000 Less mezzanine                          £165,000 Net to developer                         £638,000 Net % to developer                         79% % return on equity                          95% CALL NOW ON 01202 656100 Or visit www.bcfdevelopmentfinance.co.uk

Don't Let Stavros Spoil the Party

It is my belief that we are seeing a degree of recovery in southern England. Ignoring national statistics which are a complete Red Herring, I have witnessed an upturn in property related transactions in the south.

New build property transactions generate a huge amount of economic activity. The benefits start with professionals such as planning consultants and architects, they continue with building surveyors and others such as structural engineers, then the construction process, employing a main contractor and sub-contracting tradesmen, and then it’s back to other professionals in the form of solicitors and estate agents.

However it doesn’t end there. A new home will usually be bought with the proceeds of dependent sales otherwise known as a chain. Home movers along this chain spend considerable amounts on professional fees, furnishings and DIY.

So things are starting to go quite well when a southern European country goes pear. Greece, where the workforce sleeps half of the day but still expects their country to pay them twice as much as it can afford, is set to default on it's debts. So should that affect our economy?

There are two factors to take in to account - confidence and the logistics of the UK banking system. Confidence requires businesses and individuals to carry on regardless. A collective “wait and see” approach is a ticket to a big slowdown.

The banking system and how it will react is harder to appraise because there is little transparency as to what exposure British banks have elsewhere. In 2007 a number of our banks became insolvent partly due to second or even third hand exposure to toxic assets such as sub-prime mortgages secured on trailer parks in the US.

The credit squeeze that followed resulted from a refusal by banks to trust or lend to each other. The relaxation of this stance has been accompanied by mammoth due diligence, and if that due diligence is as ridiculously extreme with interbank lending as it is with UK property lending we could be OK. However there is no way of telling because transparency and truthfulness were abandoned by the banking sector when Captain Mainwaring retired.

My gut feeling is that some but not all of our banks may be badly impacted. Already huge withdrawals are being made by customers of Santander and I believe that the forthcoming marriage made in hell between Santander and RBS will be an apoplectic disaster.

However there have been new entrants to the UK banking sector in the past five years and they operate in specialist sectors including construction. Their business models revert to the traditional practice of lending from deposits.

Whether this will be enough to take up the vacuum left by illiquidity or worse in other banks, we will surely find out and we should pray that the likes of Robert Preston do not persuade consumers to put away their wallets.

My advice is to carry on regardless, but to keep some loose change aside to buy a holiday home in southern Europe.

New Private Lender

We have a new private lender up to 70% of open market value, will consider "non-status" development and term finance.

Access to private funds

We have very recently secured access to £10M of private funds, and processed the first loan from this tranche. The transaction took just five working days from instruction to completion. As a result we have yet another very happy property developer client.