GRENKE launches new solutions strategy in UK

• New company promise: ‘Fast. Forward. Finance’
• GRENKE becoming fastest growing financing specialist in the UK due to new solutions approach
• Customer centric and consultative, providing businesses across the UK access to a mixture of financial solutions ideally suited to their business challenges

2019 has certainly been the year for GRENKE. Launching its new brand, website and solutions sales approach. GRENKE is realising its mission to combine innovative finance solutions with speed, simplicity and shared entrepreneurship.

As the fastest growing asset finance company in the UK, the company has opened 10 branches in 12 years, with its eleventh opening in Newcastle in 2020 and their headcount growing a third in the last year.

Additionally, the long-term commitment has also seen a head office move into a new larger premises, three times its predecessor. The significantly increased space allows GRENKE to also introduce their first apprenticeship scheme in 2020, with six placements. A key investment for their business future, encouraging young talent to learn from specialist sales and administration teams.

What has been the key to their ongoing growth? Firstly, the placement of its new managing director of sales, David Horton in 2018, who focused on simplifying the sales strategy. He ensured that GRENKE maximised the use of new sales platforms to increase the sales team engagement with the customers and leads. He also increased the diversification of the assets that GRENKE currently finance – opening up to new markets and re-sellers.

Secondly, the roll out of GRENKE’s new solutions approach. Seeing the business working collaboratively across business units and offering businesses a fully rounded service to help realise their plans.

Their fresh design, state-of-the-art website provides clear orientation towards customer-focused solutions, with the financing specialist preparing for dynamic developments in the fields of digitalisation and automation.

“Our new brand promise ‘Fast. Forward. Finance’, places added value for our customer’s front and centre. At GRENKE, re-sellers and organisations can find everything they need to cover their financing requirements – whether leasing or factoring – in a whole range of different situations. This means that they can benefit even more comprehensively than ever before from GRENKE solutions,” says David.

On the new website, re-sellers and potential customers can now find solutions tailored to precisely the challenges they face. This is why GRENKE has developed typical case scenarios that effectively address the specific needs of different target groups, for example from the service sector, retail, trade, healthcare and manufacturing industries.

Despite the evolution of its brand, digital solutions and sales approach, the financing specialist is continuing to emphasis the value of close relationships. This benefits not only re-sellers, customers and employees, but also shareholders and investors.

Strategy for the future? Make it even easier for companies of all sizes to put their creative ideas into practice – without having to worry about complex financing. GRENKE will take care of their business finance needs so they can focus on boosting their business – regardless of which industry they come from.

LendInvest expands buy-to-let offering into Scotland as Scottish property market booms

LendInvest, the UK’s marketplace for property finance, has expanded its buy-to-let offering into Scotland as demand for long-term property finance in the Scottish housing market increases.

The move comes months after the announcement that LendInvest has received £200m in funding from the National Australia Bank for the business to expand its capacity to lend in the UK BTL market.

LendInvest’s two-year fixed rates currently start from 2.89%, and five-year fixed rates from 3.19%. ICR assessment rate is 5% across all products, with the exception of the 5 year fixed interest product which remains at 3.6%.

Scottish borrowers will also have access to a £750 legal fee cashback offer on 5-year fixed to 75% LTV.

The full range of LendInvest’s existing short-term loan products continue to be available to Scottish property professionals.

Ian Boden, sales director at LendInvest, commented: “Scotland has always been a priority market for us as a lender. For a location with such huge potential, it’s surprising that the Scottish market continues to be undersupplied by active mortgage providers. Following the fantastic reception we’ve had for our BTL product so far in England and Wales, we are excited to be delivering the same high quality loans to the Scottish market.”

Recent research shows that property prices in Scotland have soared to an 11 year high, with Glasgow reporting the fastest growing house prices in the UK.*

Property developing couple launch modern rental properties into Aberdeen property market

A husband and wife property investor team are set to breathe new life into a tired block of flats in Aberdeen.

Dr Mohammad Namavar and Dr Elahe Radmaneshfar plan to turn 17 serviced apartments into modern rental homes thanks to a £437,500 cash injection from Together, which contributed to purchasing part of the portfolio along with funding from other sources.

The specialist lender agreed funding on the three-storey building, which stands next to the art-deco inspired OYO Northern Hotel on Great Northern Road.

Steven Clark, regional development director for Scotland at Together, said: “Despite the challenges the Aberdeen property market has faced in recent years, we are keen to support clients in the North East.

“I have a great relationship with Mohammad and Elahe, having worked together on several occasions before. They have a reputation in Aberdeen of injecting life back into properties to improve areas of the city and we wish them all the best in their latest project.”

The short-term bridging loan supported the purchase of the block. Elahe and Mohammad are renovating each flat after noticing a gap in the Aberdeen rental market.

The development includes installing new bathrooms, kitchens and modern heating systems, and updating the flooring and décor to create modern yet affordable homes for future tenants.

Before starting their property business full-time, Mohammad was working in the oil industry and Elahe was a research scientist. They will rent out each of the apartments individually on long-term contracts, providing five two-bedroom, four one-bedroom and eight studio contemporary homes for the city – each ideally located for the University of Aberdeen and the city centre.

The couple have built up a portfolio of nearly 34 properties throughout their career as Scotland-based property investment company, Cito Cimo Properties Ltd, and say the new project will give them “financial security for years to come”

Mohammad said: “We saw potential in this particular building and set out to renovate the apartments to a high standard at an affordable rental price. It has been an exciting project over the last few months and we’re sure that they will be a positive addition to the letting market in Aberdeen. We’re proud to be playing a part in helping ease Aberdeen’s housing shortage.

“As our portfolio has grown, we have always had a positive experience working with Together. Steven has, once again, been helpful throughout the process.”

Skipton International offer more to high net worths

Skipton International has announced an enhancement to its mortgage criteria, allowing resident buy-to-let investors to potentially achieve greater levels of borrowing against their rental yields.

The leading UK buy-to-let mortgage lender for overseas residents will be offering a reduced interest coverage ratio of 110% (compared to the standard 125%) to customers earning over £100,000 pa and looking to borrow over £500,000.

To qualify, the client’s sole income (or main earner if joint application) must be equivalent to at least £100,000 and the mortgage must exceed £500,000.

Roger Hughes, Skipton international’s business development manager, said “We are always looking at opportunities to develop our mortgage proposition and make it more attractive. This change will allow high net worth individual’s to borrow more funds to either purchase a new property or remortgage an existing one”.