"We are now providing a 12 month facility that allows the customer to dip in and out across a year without the traditional deal by deal fees that would normally need to be paid."
Chief commercial officer, Martine Catton, commented: “We’ve taken time to put ourselves in property investors’ and developers’ shoes and its clear they need a finance facility in place before opportunities present themselves. Bidding at auction would be a prime example. We are now providing a 12 month facility that allows the customer to dip in and out across a year without the traditional deal by deal fees that would normally need to be paid.
“We are offering almost immediate access to facilities between £50,000 - £1 million with no interest to pay until the facility is drawn down. We will work to a LTV of up to 80% based on most recent valuation/purchase price of existing property/portfolio. Equity in a portfolio can be released and, where we are able, we can take an equitable charge. This removes time delays in taking security and the obstacle of first charge holders unwillingness to give consent.
“We know the timing is good because all of our broker contacts confirm that there is a pent up demand for property deals. I believe this is driven by Covid and various lockdowns causing the property market to cease up, business with no option but to sell up and a desire to take advantage of the recent stamp duty holiday extension.”
