LDS Sales Guarantees and Atelier join forces to support SME developers
LDS Sales Guarantees and Atelier have partnered in order to support the growth of small and medium sized enterprise (SME) developers.
Developers of housing or apartment schemes with a minimum gross development value (GDV) of £5m can now apply for a combined senior debt and sales guarantee package – accessing up to 95% cost funding, with sales risk removed.
Developers will also benefit from an efficient contracting process, with shared professional due diligence to save time and cost.
Applications from developers and finance brokers are being accepted immediately.
Ben Jenkinson (pictured), managing director of LDS Sales Guarantees, said: “Atelier shares our passion and determination to improve the lot of SME developers, regardless of market conditions.
“We are therefore delighted to be partnering with them, combining LDS Sales Guarantees and good quality senior debt to accelerate the growth ambitions of developers across England and Wales – building more homes while taking less risk.”
Martin Gilsenan, chief originations officer at Atelier, said: “We are pleased to be collaborating with LDS – their Sales Guarantee solution offers a welcome source of liquidity to SME developers in this challenging market.
“The past 12 months has seen a significant reduction in the amount of available JV equity and this has created particular challenges.
“By working collaboratively with LDS, we can help developers to structure a workable capital stack.
“We founded our business to provide development finance solutions that SME developers can depend on, and we seek to build partnerships which will help our clients.”