SUMMER 11
COMPANY PROFILE
CASE STUDY
The property sector has not been without its challenges in the last few years. Despite these, family-firm MNM Developments have sold all available stock on their South Edinburgh development site in record time. According to Marc Teague, Director of Business, this can be attributed to meticulous attention to detail and quality. “The quality of fixtures and fittings, and the finish in our kitchens is second to none and really help our properties stand out from the crowd.” With over 30 years experience in the sector, MNM took advantage of a Lloyds TSB Scotland Development Loan for a Residential Build Project to finance this particular development. Tailor-made for this sector the
Loan releases funds in monthly instalments, as required by the developer, and is then repaid when the units are sold on. “The Bank has been absolutely fantastic,” says Marc, “and so positive in their banking approach. When we first approached them, we knew what funding we wanted and how it needed to work and the bank were perfectly placed to deliver exactly that. “Our relationship manager could appreciate how our unique needs worked within the sector and understood that each individual case is different. Having the support of a bank that genuinely understands both the business and the needs of the property sector is an invaluable asset.” The success of this most recent development
has brought forward MNM’s plans for a further two sites and once again they’ll be using Lloyds TSB Scotland for all their banking requirements. Indeed one of its sister companies has been so impressed by service levels that they too are moving their business account to the Bank. Relationship manager Graham Dunlop oversees the MNM Development account and has been able to bring wider property knowledge, experience and funding support to realise the company’s ambitions. “Having Graham onside as part of the team has been absolutely fantastic,” acknowledges Marc. “bringing his sector knowledge into the equation makes understanding and communication so much easier.”
Any property given as security which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it. This advertorial is produced for information only and should not be relied upon on as offering advice for any set of circumstances and specific advice should always be sought in each situation. All lending is subject to a satisfactory credit assessment. Please remember we cannot guarantee the security of messages sent by email. Bank of Scotland plc. Registered in Scotland number SC327000. Registered office: The Mound, Edinburgh EH1 1YZ. Lloyds TSB Scotland plc Registered office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland no. SC95237. Telephone: 0131 225 4555. Authorised and regulated by the Financial Services Authority. The Lloyds Banking Group includes Bank of Scotland plc and a number of other companies using brands including Lloyds TSB, Halifax and Bank of Scotland, and their associated companies.
27
BUSINESS QUARTER | SUMMER 11