A team of three property focused relationship managers has been
created to help West Midlands property businesses as Lloyds TSB
Commercial announces that lending to the sector in the region rose
by 9.2 per cent in 2010.
That figure represents lending to SME property businesses with a
turnover of up to £15 million - companies which need
dedicated advice to help them navigate a slowly recovering
sector.
The investment in a specialist team comes as Lloyds TSB
Commercial has been appointed RICS' (Royal Institution of Chartered
Surveyors) preferred banking partner, offering dedicated banking
services to RICS members.
Securing preferred supplier status with the RICS means the bank
is establishing itself as a leading provider of finance and banking
to one of the most important business sectors in the UK.
Relationship director Andy Bullmore from Lloyds TSB Commercial
in the West Midlands said: "The SME property sector is crucial to
the UK and regional economy and the fact that we have increased
lending by 9.2 per cent is an indicator that our strategy of
investing in this dedicated team is what businesses are looking
for.
"Many of our property customers are now considering purchasing
property - such as their own premises - again after a cautious
couple of years. This is good news for a recovering economy.
"Our relationship with RICS wouldn't have been possible if the
organisation didn't have confidence that our team was trained to
understand the changing rules and regulations of property finance.
Each specialist manager must have a high standard of property
expertise to be considered for the role and undergo continuing
professional development (CPD).
"By establishing this team in the West Midlands we are aiming to
further increase lending to the right businesses at a time when the
SME property sector needs confidence and stability."
Julia Kamoda, RICS said: "All property professionals need a
strong relationship with their bank. Lloyds TSB Commercial's
decision to create a property-focused, specially trained team
indicates that it is actively looking to lend to SME property
investors in the West Midlands."