LDS records largest number of Sales Guarantees in August

LDS records largest number of Sales Guarantees in August

LDS experienced its largest amount of sales guarantees in both volume and numbers in August.

The company attributed the rise to a softening property market which saw enquiry levels grow as brokers and developers looked to increase leverage and cashflow on projects.

Mark Hawthorn, CEO at LDS, commented: “Amid the largest drop in house prices in over a decade, demand for our sales guarantees has soared.”

“Our offering reduces risk and releases much needed cash to SME developers — two highly sought after requirements in this market.”

Mark Roberts, relationship director at LDS, added: “We are seeing situations where down valuations and increased interest costs are creating equity shortfalls, potentially killing deals.

“Our ability to put 10% cash back into a housebuilders cashflow can remove these shortfalls [which is] often the difference between a site moving forward or remaining undeveloped.”

Ben Jenkinson, managing director at LDS (pictured above), also said: “We’ve worked hard at fostering repeat business and strengthening our relationships with lenders.

“This, coupled with a growing LDS team and market conditions, is feeding into the fantastic enquiry levels we’re experiencing.”

Landmark Group