As the coronavirus pandemic unfolded in the spring of 2020 our real estate finance team mobilised to support our clients in what was - and arguably remains - a challenging and uncertain period.
After the initial shockwaves, we found that our customers displayed remarkable resilience in the face of adversity, knuckling down and adapting to the challenges as they unfolded - whether that was lockdown, changing regulations, supply chain issues and market expectations - with remarkable agility.
This meant that throughout the year our 35-strong real estate banking team was as busy as ever. Our collective experience helped us to provide practical advice and peace of mind, working collaboratively and flexibly with customers to ensure their lending needs were met, despite the challenges posed by the pandemic.
Not a single member of our team was furloughed, which meant that our clients could continue their relationship with the same bankers that signed their business. We invested in the infrastructure to ensure our managers could operate remotely - safely, seamlessly and effectively. Our own people remain as much a priority as our customers, evidenced by the Bank's inclusion in the annual Great Place to Work listing, which benchmarks 10,000 businesses across the globe.
Prior to the pandemic our Reading team was preparing to move to new premises. Regrettably we've not been able to get the whole team together there yet, but the office has provided an occasional refuge and resource for some team members and we look forward to all of us being there together in 2021.
Whilst Covid-19 has not gone away - though the roll-out of the vaccine is cause for optimism - neither has Britain's need for new homes.
New homes registrations in Q2 last year were less than half of the 40,000+ delivered in Q1. The sector has a lot of catching up to do and the signs are this is already starting to happen.
As a result, in 2020 we not only supported long-standing customers, but welcomed new ones to Secure Trust Bank having concluded deals throughout lockdown.
Last year our customers were on target to deliver more than 900 new homes and 500+ student beds. We are looking forward to supporting more SME housebuilders in 2021, as Britain gets back building. Our strong balance sheet and our highly experienced team put us in good stead to continue this trajectory.
Secure Trust Bank provides lending facilities of £1m-£45m to residential and commercial property developers and investors, from housebuilders to UK-based funds. We have £100m committed specifically to assist SME housebuilders and property developers.