The change comes in response to demand from its clients and brokers seeking funding in this asset class. Having been more tightly focused on pure residential development during the past two years, Hodge is now seeking to expand its reach and fund experienced developers across multiple asset classes.
There’s an active residential market out there with plenty of experienced developers searching for funding for schemes that previously sat slightly outside of Hodge’s appetite. The new criteria update will address this.
Gareth Davies, Hodge’s head of development finance, said of the changes: “There is clearly demand for development funding in the alternative residential asset class and, given Hodge’s history and experience in this sector, it makes sense for us to expand our appetite across multiple asset classes.”
