NEWS

“Our relationship with Bath & West keeps things running smoothly”

Nicky Martin has been developing residential properties in the South West for over 30 years. Originally working with his father, Nicky now runs Bath-based developer Martin’s Developments Ltd, a family-owned firm that specialises in small to medium-sized projects,...

Bridging Industry stalwart Matthew Anderson joins Bath & West Finance

Matthew Anderson has joined West Country bridging lender Bath & West as commercial director. Anderson has over 25 years experience in the bridging and development finance markets, formerly heading up development lending at Amicus Finance and prior to that, at...

Should unregulated bridging really be driven by borrower status?

A recent report into the bridging market, penned by EY Financial Services, articulated some interesting features of the current short-term market that bear a little more thought. According to EY’s analysis, growing competition in the bridging market ‘requires...

Thematic review of the short-term sector: Is it time to re-visit the basics of bridging?

The bridging market has changed a lot over the past decade. No longer is the dominant model to have a number of private individuals funding short-term development projects, underwritten on a case by case basis and priced typically at between 1.5 and 2 per cent a...
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Nicky Martin has been developing residential properties in the South West for over 30 years. Originally working with his father, Nicky now runs Bath-based developer Martin’s Developments Ltd, a family-owned firm that specialises in small to medium-sized projects, building between 10 to 20 homes each time.

His latest development, Lavender Close, is just a 15-minute drive from the centre of Bath and only 10 minutes from the popular market town of Frome, which often tops ‘The Best Places to Live’ lists. Situated next to a Lavender farm in the village of Faulkland, the development comprises eight high spec executive homes that are expected to sell for between £535,000 and £1.3million each.

The deal has been financed by Bath & West using a short-term bridging line, released in stages over the course of the development. The loan will total £3.1million over 18 months with the gross development value expected to reach £7million. Bath & West is charging a rate of 1.1 per cent per month.

‘We have worked with Matt Anderson for more than 20 years and were confident that Bath & West would be the right fit for us on this development,’ said Nicky. ‘This type of project is all about relationships and when you’re working on a development, you rely on your relationship with the lender to keep things running smoothly.

‘Bath & West have been brilliant at releasing funds as and when we need them for the next stage of development; they’ve done a lot of due diligence to make sure that they’re as comfortable as we are with the project and we’ve had a really positive experience with them.’