Since June 2016 when the Brexit referendum result was announced, the UK has been on a rollercoaster; papers have been filled with the impact that leaving the European Union would have on our economy and now, the devastation of Covid on our nation, both financially and emotionally.

But there are green shoots of hope and positivity; financial markets responded well to the announcement of a Covid vaccine and within our sector, property, the market is buoyant. According to Knight Frank, in the final week of October they recorded: ‘the highest number of offers accepted outside the capital.’ The Land Registry UK House Price Index, which is based on sold properties, works on a two-month lag, so the latest available figures are for September, found the price of property outside of London had increased 4.7% year-on-year.

Increased interest in properties outside of London is beneficial for our business, as is the trend towards more diverse loans. We are fielding enquires from borrowers who have interesting projects all over the UK, with a variety of exit strategies. The move towards staycations has increased the number of enquires for loans with property refurbishments in the holiday let arena.

The product we offer remains unchanged, as does our main priority, which is to protect investor capital and ensure the value of the underlying asset is stable throughout the term of the loan. The types of projects borrowers are proposing are more diverse than ever and the exit strategies suggested show the adaptability of property developers within the UK.

The ability of property developers to adapt, within this uncertain climate, is advantageous for property investors; it gives them scope to manage a diversified property portfolio and more investment choice.

I look forward to watching the green shoots of hope and positivity continue to change how we work, interact, and grow, especially in the property sector.