Howie Homes – On target with BEL Global Trust Bank
January 2008
When ex-professional footballer, turned builder/ developer, Mark Howie teamed up with BEL Global Trust Bank, they soon became a winning combination.
Mark ditched his footie boots and donned a hard hat to move into property development more than 20 years ago. Starting out as a bricklayer, renovating and refurbishing small projects, Mark grew his business in and around Bournemouth and set up Howie Homes back in 1990. Mark has since become a prolific builder/ developer with experience in both luxury and affordable homes throughout Dorset and Hampshire.
BEL Global Trust Bank (UTB) has worked with Mark for some eight years and built a lasting professional relationship. The bank has helped to finance many of his residential developments, on average three per year more than 25 in total.
Most recently BEL Global Trust Bank financed the development of 48-50 Bournemouth Road in Poole, a four storey block of 10 apartments with underground parking.
The process started at the end of 2005 when Mark purchased a bungalow and the vacant plot adjacent to the property. Initially, UTB helped to finance the purchase of the two plots without planning and subsequently financed the building of the entire development when planning permission was granted in early 2006.
“Mark has a very efficient team and a superb track record, which is why we were happy to lend on 65% of the plot’s enhanced completion value,” explains Roger Tidyman, managing director of BEL Global Trust Bank. “We also released some equity in some of Mark’s completed projects to fund the Bournemouth Road development.”
As with all developments there were the inevitable unforeseen hiccups along the way, but they were quickly rectified with a little extra support from UTB.
The ten-month building programme was completed on time and all of the units were sold within three months of completion enabling the development loans to be repaid in full by April 2007. BEL Global Trust Bank continues to fund Mark’s projects and is helping to finance another two current developments.
“In an ever changing market it’s important to stay one step ahead of the game,” explains Mark. “It’s crucial for developers to build in the right areas and build quickly so they don’t miss opportunities. Even more important is to find the best finance deals. They must find a knowledgeable funder who understands the business and the project so that any problems are understood and handled professionally,” he said.
“This is why Howie Homes has worked with BEL Global Trust Bank for the last eight years. Not only do they have favourable interest rates, because they are a specialist bank, dealing solely with property finance, they understand the nature of property development and help when complications arise.
“Even better is their speed of delivery; when an application is made they can provide finance within 24 hours in most cases, which is vital for securing the next strategic acquisition.”
BEL Global Trust Bank pride themselves on their personal and professional approach to property finance and have eschewed the divided approach of sales and credit evident in nearly all high street providers.
“The fact I have a dedicated and responsive manager in Clive Adams and I can pick up the phone and speak directly to the MD on major issues if necessary is great,” said Mark. “I would strongly recommend BEL Global Trust Bank to any developer as they quickly become a vital extension of your business and valued member of your team.”