Brickflow launches new broker platform
Brickflow, the development finance comparison site, has launched a loan sourcing and packaging platform for brokers.
The site, launched in 2020, allows users to compare loans from more than 30 lenders, including Barclays, Investec and Secure Trust Bank, and peer-to-peer lenders CapitalRise, CrowdProperty and Assetz Capital.
It is now inviting selected mortgage brokers to trial the beta version of its ‘Brickflow for brokers’ platform so they can source and package loans for their property developer clients.
Read more: OnTheMarket signs deal with Brickflow
After a broker has registered on the site and put in the developer’s project details, Brickflow said its platform sources loans from over 40 lenders within two minutes, using proprietary algorithms and over 120 data points.
Without Brickflow, a manual market search can take over 20 hours over four to six weeks, it said.
The new broker offering was designed in collaboration with development finance lenders.
Loan offers range from £150,000 to £150m for residential, commercial and mixed-use new-builds, conversion and permitted development projects.
Brokers using the platform keep 100 per cent commission on every loan completed, with Brickflow charging a flat fee of £35 per user, per month.
Brickflow also offers a white label solution, whereby brokers upload their company logo and contact details so borrowers see the software as the broker’s own.
Read more: Brickflow partners with map service to help developers find sites
“This much-needed industry tool is a game changer for brokers who historically have suffered from a lack of choice as well as difficulty in sourcing best-fit development finance loans for clients,” said Brickflow co-founder and chief executive Ian Humphreys.
“By giving brokers and their clients instant access to development finance, they can quickly determine whether a site is viable, saving countless hours of time for all parties.
Read more: Developers and intermediaries spend 70 hours searching for loans
“Lenders are particularly appreciative, as the system painlessly guides users through what information is needed to issue loan terms. This means beginners as well as expert brokers, can use Brickflow.”
Once the first 150 broker firms have completed their feedback, Brickflow said the new platform will be launched to the whole broker market in around two months’ time.
