The Intermediary – July 2026 - Flipbook - Page 55
Q&A
that are well researched, carefully structured and
commercially viable.
For lenders, that means understanding the
rationale behind each opportunity rather than
relying solely on standard criteria.
Is the industry at risk of
overlooking capable first-time
developers?
isn’t finding capital. It’s finding a lender whose
appetite and underwriting approach align with it,
and whose funding structure supports a viable,
profitable outcome for everyone involved.
Brokers also value certainty. Early
conversations, practical feedback and clear
decision-making help them manage client
expectations and move projects forward
more efficiently.
CrowdProperty has
Experience should always form part of
undergone a brand
the assessment, but it shouldn’t become
the assessment. Every experienced
evolution. What prompted
developer delivered their first project at
that shift?
some point.
We look beyond track record and ask
The market has evolved, and we wanted
broader questions. Is planning secured?
our brand to better reflect the way we
Has the borrower invested significantly
already lend. We’ve always taken a practical,
already? Is there a strong professional team?
property-led approach, but we recognised
Is the exit strategy realistic?
STEVE SMITH an opportunity to communicate more clearly
The same principles apply whether it’s a
about the types of projects we’re comfortable
first-time developer, a commercial conversion
supporting. Our focus has been on helping
or a project using modern methods of
brokers understand that we don’t just provide
construction. We’re always assessing the strength
development finance – we understand how
of the opportunity rather than relying on a
development works.
single characteristic.
Over the next 12 to 18 months, we’ll continue
fostering broker relationships and increase
What changes would you most
proposition awareness – making it easier for
brokers to recognise when a deal is a good fit
like to see across the specialist
for CrowdProperty.
lending market?
I would like to see the conversation move
away from what’s considered ‘standard’ and
‘non-standard’. Today’s development market is
far more diverse than it was even a few years ago.
Rural developments, conversions, below market
value acquisitions and complex deal structures are
all becoming increasingly common.
The more lenders combine robust credit
processes with genuine property expertise, the
more opportunities we will collectively be able to
support, across the board.
What are brokers telling you about
the challenges in today’s market?
Many brokers tell us they know a deal works
commercially, but they’re struggling to find a
lender willing to assess it properly.
This can be for any number of reasons we’ve
already touched on – whether it’s a rural location,
a below market value purchase, a deferred
payment structure or a borrower delivering their
first development. Increasingly, the challenge
What will define the next phase of
the market?
I think the market will continue to diversify. The
UK needs more housing.
We will see more regeneration, more
conversions, more rural developments, more
first-time developers and a greater adoption of
modern methods of construction. Sustainability
and energy efficiency will continue to play a more
important role in development. Developers will
continue finding ways to create value because
that’s how SME developers have always adapted.
The lenders who succeed won’t necessarily be
those with the longest criteria documents. They’ll
be the ones with the expertise and flexibility to
understand these opportunities and structure
funding around how projects actually work.
For brokers, choosing the right funding partner
will become even more important. I think the next
phase of development finance will be defined
less by whether a project fits traditional criteria,
and more by whether a lender understands the
opportunity in front of them.
July 2026 | The Intermediary
53
