Assetz Capital recently announced its institutionally funded lending strategy and its move away from retail funding of its lending.
The 10-year old alternative lending platform has “continued to focus on its core areas of expertise including ground up residential housebuilding, residential refurbishment, and continued strong support for funding Purpose Built Student Accommodation (PBSA).”
Assetz recently “delivered its largest deal to date, a £13.3m PBSA scheme in Nottingham.”
Now having “delivered over £1.7bn of funding to UK Developers and SMEs, it has the £2bn milestone firmly in its sights and has recently widened its lending appetite to include property backed loans from £1m to £50m, far above the capacity of most lenders.”
Andrew Charnley, Managing Director of Assetz Capital, commented:
“With the £2bn milestone now rapidly approaching and our model focusing on larger loans, we have now appointed Andrew Fraser as our Chief Commercial Officer. He comes with 20+ years’ experience in the UK&I property lending sector and has gathered a strong team of experienced and development focused Relationship Directors covering all regions. Andrew brings the technical expertise that we need to drive forward and to ensure that Assetz becomes the preferred development lender of choice for both finance brokers, advisors, and developers alike.”
Andrew Fraser, newly appointed Chief Commercial Officer, noted:
“Now we want to hear directly from regional housebuilders wanting to fund their next site and also experienced property advisors/brokers wanting certainty of delivery of funding for their clients. Our absolute focus is customer delivery with a common-sense approach to lending. Assetz has a highly experienced Origination Team of regional Relationship Directors who have worked in the property sector, with some having also worked inhouse with developers, allowing us to fully understand our customer’s needs. The team are hugely excited at our market opportunity with the ability to now fund larger deals all over the UK.”
Andrew Charnley added:
“We are continuing to build on our reputation as a market leading institutionally funded lending business. Our ambitions to increase our lending to SMEs, housebuilders and other key sectors remain unchanged, which means our focus this year and beyond will be continuing to work with institutional partners allowing Andrew Fraser and our Origination team to drive continued loan book growth nationally.”
