NEDBANK SPOKESMAN

The only aspect that really counts when it comes to borrowing money from a financial institution for a major property development is the rate at which it is loaned - right?

Wrong!

Peter Smith, Regional Executive Nedbank Property and Asset Finance in the Cape, said that, "while it is always essential to keep rates truly competitive, Nedbank’s ability to attract and retain clients, some of whom have been with us for almost two decades, can be attributed to a large degree to the input of our project co-ordination team of experienced building professionals and quantity surveyors."

This team, headed up by Graham Greentree, adds invaluably to the project financing proposal upfront and assists the bank and developers to monitor the development in all its phases.

"They are not just policemen and project auditors - they add real "site insight" to our financing activity," said Smith.

"Time and again," said Smith, "they have been able to spot warning signs - to the ultimate benefit of both the client and the financiers. They tend to become involved very early on and to have a significant effect on the project programme, where they can also usually have a constructive input. They then remain involved through to the final handover and we hear regularly from clients that their experience and understanding of the development process have proved exceptionally valuable."

Equally important to Nedbank's success, said Smith, has been their ability to remain flexible throughout the lifecycle of a development.

"In this respect," he said, "I believe we are several jumps ahead of many other funding institutions. We can and do introduce changes mid-stream, reassessing the costs and the budget as we go along. The net result is that the bottom line is usually significantly improved."

Smith said that we will continue to beef up this area of Nedbank’s product offering to meet the demands of buoyant and successful property development financing activity.

For further information contact Peter Smith on 021 416 7000.