Assetz Capital launches legal panel in Scotland
Peer-to-peer lender Assetz Capital has launched its first legal panel after securing partnerships with six leading solicitor firms in Scotland.
The panel will support the firm’s UK – north team, which covers all of Scotland, including the Highlands and islands, and will provide a more efficient and cost-effective solution to Assetz Capital’s borrower clients. As part of the service, clients are guaranteed initial contact within 24 hours of enquiry, and will receive client engagement documents within 72 hours of instruction time. In addition, Assetz Capital is offering savings of £250 on legal fees per transaction if a panel solicitor is used to act for the borrower.
The legal panel consists of Boyd Legal Solicitors, CMS, Gillespie Macandrew, Gilson Gray LLP, Harper Macleod LLP and Lindsays. Each of the firms are experienced in transacting the Assetz product range, which includes development finance loans, commercial mortgages, residential refurbishment loans and bridging loans.
Assetz Capital has lent a total of £820m since its inception in 2013, which has led to the construction of 4,000 homes in the UK. Typically, the firm provides loans between £100,000 and £10m to fund the construction of large scale development projects or simply help businesses grow.
John Hewitt, regional director, UK – north at Assetz Capital, said: “For our clients who find it difficult when choosing a solicitor, we’ve built this panel of experts to help streamline the process and make their lives easier.
“We are extremely excited to be working with such an experienced list of lawyers, who have provided an impeccable service through the years in which we have been working together. We look forward to building on our relationship with all five firms, and strengthening our offering to ensure a smooth and cost-effective service to our clients.”