Assetz Capital heats up for summer rate reduction
Marketplace lender Assetz Capital is offering a summer rate reduction of 0.45% across all of its loan products to borrowers until 31 July 2021.
The promotion reduces the lender’s annual rates across its bridging, commercial mortgages/investment, SME secured, development finance and residential refurbishment products. To secure this promotional offer, borrowers must have accepted terms and paid fees to instruct professionals on the back of a valid decision in principle, prior to the end of July.
Following substantial lending through the government-backed CBILS scheme throughout the pandemic, Assetz Capital has also seen a rise in demand for its bridging loans in recent months after launching a new 0.65% (currently discounted to 0.61%) bridging product in April.
Mark Standley, national commercial director at Assetz said: “We are delighted to make this promotion available to our brokers and their borrowers. The initiative is designed to help our brokers win more business as we are finalising our CBILS pipeline and launch a refreshed and sharper proposition across our traditional product sets following the pandemic.
“We are now supporting property secured loans up to 75% LTV between £150k and £10m on a wider range of solutions and competitive pricing, whilst retaining the same high standards of personal service and reliability. Direct feedback from our intermediary network has helped to shape our new proposition, and so a 45-basis point reduction until the end of July is our way of saying thank you.”
Assetz Capital has lent approaching 1.5bn since its inception in 2013 to UK SMEs and house builders and funded around 1 in every 100 new homes last year. It is estimated that its current borrowers support up to 100,000 jobs across the UK.
