Assetz Capital launches new bridging product

Assetz Capital has launched a new bridging product with a 0.65 per cent interest rate.

The peer-to-peer lending platform will offer bridging loans from £150,000 to £5m with loan-to-values to 75 per cent and terms up to 24 months and has streamlined its bridging product offering.

Assetz Capital said that alongside offering commercial mortgages and bridging, the platform will continue to provide continued strong support for small to regional housebuilders with bespoke development loans.

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“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,” said Mark Standley (pictured), national commercial director at Assetz Capital.

“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.”

The new product launch follows an array of recent changes at Assetz Capital.

The platform, which has repaid £120m in withdrawals over the last 12 months, is now altering the way its access accounts work to boost liquidity, including the introduction of a withdrawal fee that will only be charged during “non-normal market conditions.”