UK-based Assetz Capital, a peer-to-peer lender that originates secured loans, notes that it’s pleased to be offering a summer rate “reduction of 0.45%” across all of its loan products to borrowers until July 31, 2021.
As mentioned in a blog post by the Assetz Capital team, the promotion offers a reduction in their annual rates “across bridging, commercial mortgages/investment, SME secured, development finance and residential refurbishment products.”
Assetz Capital also mentions that if you want to secure this promotional offer, then as a borrower, you must have “accepted terms and paid fees to instruct professionals on the back of a valid decision in principle, prior to the end of July.”
Assetz Capital further notes:
“Following substantial lending through the Government-backed CBILS scheme throughout the pandemic, we’ve also seen a rise in demand for bridging loans in recent months after launching a new 0.65% (currently discounted to 0.61%) bridging product in April.”
Mark Standley, the firm’s National Commercial Director, noted that they’re pleased to be making this promotion available to their brokers and their borrowers. The initiative has been specifically created to assist brokers with winning more business as they’re finalizing the CBILS pipeline and “launch a refreshed and sharper proposition across our traditional product sets following the pandemic.” Standley added.
“We’re now supporting property secured loans up to 75% LTV between £150k and £10m on a wider range of solutions and competitive pricing, whilst retaining the same high standards of personal service and reliability. Direct feedback from our intermediary network has helped to shape our new proposition, and so a 45-basis point reduction until the end of July is our way of saying thank you.”
As confirmed by Assetz Capital, there are no hidden terms or catches, only a great opportunity to assist borrowers with accessing a lower rate whilst “still receiving the same excellence in service delivery.” But time really “is of the essence with this promotion, and we cannot guarantee the reduced rate beyond the 31st July 2021 as outlined in our terms and conditions below,” the company clarified.
Assetz Capital also noted that if you want to learn more about this new promotion, then please contact them at 0800 470 0430 or contact your local Relationship Director who will “be able to discuss reduced rates with you in more detail.”
The terms and conditions of this offer are as follows:
- The promotional offer of a 45 basis points reduction “applies to all loan products offered by Assetz Capital and will be available to borrowers who accept our terms – this means paying fees to instruct professionals on the back of a valid, unexpired Decision In Principle – between “now” and close of business on 31st July 2021.”
- Loans which are eligible for obtaining a promotional rate will then “retain that discount through to and at drawdown providing the terms of the deal and/or the credit risk do not change.”
- In the event that “a loan offer or time bound report has expired (including the need for a re-issue of anything in the process) the promotional rate will be withdrawn.”
- Assetz Capital “reserve the right to withdraw the promotion at any time.”