Marketplace lending platform Assetz Capital is looking to boost loan originations in 2021 with a new bridge loan product. According to the Fintech, the lending product will have a 0.65% interest rate for bridge loans from £150,000 to £5 million with LTVs to 75% and terms up to 24 months.
Assetz Capital has offered bridging loans for years but the product offering is said to have been streamlined to further advance the service-level experience while bringing more attractive rates to the market.
During the pandemic, Assetz Capital has been focused on delivering the Government’s Coronavirus Business Interruption Loan Scheme (CBILS) after being accredited by the British Business Bank. As the UK sees light at the end of the tunnel, the online lender has refreshed its range of property secured funding solutions.
Along with commercial mortgages and bridging there will be continued strong support for small to regional housebuilders with development loans.
Mark Standley, National Commercial Director at Assetz Capital stated:
“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.”