UK based peer-to-peer lender RateSetter announced on Friday it is expanding its Property Development Finance Team in South West England with the appointment of Ian Granger as its new Business Development Manager. Granger will reportedly oversee client management and business development in Somerset, Devon, and Cornwall as RateSetter continues to expand its client portfolio.
According to RateSetter, Granger has extensive experience in the property sector, having spent over 20 years in retail banking with HSBC and Nat West, following which he spearheaded Davenham Group’s growth into the South West. Granger notably joins RateSetter from structural warranty provider, Premier Guarantee, where he managed relationships with a range of local, regional and national developers across the South West. Speaking about his new position, Granger stated:
“I am very much looking forward to helping developers across the South West access the funding they require. I strongly believe that Relationship Managers with expert local market knowledge have a significant role in ensuring that developers receive the best possible service. RateSetter, as an independent and respected funder, is committed to providing this support.”
Neal Moy, RateSetter’s Head of Property Finance, also commented:
“Ian’s wealth of experience and in-depth knowledge of the sector in the South West will be big assets as we expand RateSetter’s presence. Following strong growth over the past year, over 20% of our property development loan portfolio is located in the South West and we are confident that we can build further on this momentum”.
RateSetter added that the appointment of Granger follows a very strong year for RateSetter Property Finance in 2018, which saw a 77% increase in drawdowns compared to 2017.