Assetz Capital launches new bridging product to supercharge 2021 origination
Assetz Capital has launched a new bridging product with a 0.65% interest rate as it looks to drive lending levels even further through 2021.
The marketplace lender – which surpassed the £1bn of lending milestone at the beginning of last year – will offer bridging loans from £150,000 to £5m with LTVs to 75% and terms up to 24 months. Assetz Capital has offered bridging loans for many years but the product offering has been streamlined to further advance the service-level experience and also bring even more attractive rates to market.
Throughout the pandemic, Assetz Capital has been focused on successfully delivering the government’s Coronavirus Business Interruption Loan Scheme (CBILS) after being accredited by the British Business Bank in May last year. As the UK continues its return to economic growth with the successful vaccine roll-out, the lender has fully refreshed its range of property secured funding solutions. Alongside commercial mortgages and bridging there will be continued strong support for small to regional housebuilders with bespoke development loans that are needed to fuel sustained economic growth.
Mark Standley, national commercial director at Assetz Capital said: “With strong ambitions for well managed growth to our next billion of lending in the coming year or so, we approach all things in the spirit of continuous improvement and these principles have been applied to good effect in our evolution as a bridging lender. Rates have been sharpened across the board to remain competitive, whilst perhaps more importantly we have listened carefully to the needs and wants of our introducers and their borrowers.
“The delivery process has been comprehensively re-engineered to ensure that our pace matches the transaction with timely and reliable completions. Moreover, the offering is being built around a specialist frontline and support team to ensure a consistent and exceptional service experience. At Assetz Capital we refer to this as ‘real world lending’ which means putting our passionate people at the heart of customer experience. Intermediaries and borrowers will be able to access advice and support from our specialist relationship directors throughout the lending process.”