Assetz Capital, a funder in the SME development lending market, announce a significant enhancement to its development lending solutions, “offering stronger initial day one advances to developers on schemes up to 70% LTGDV.”
This strategic offer is designed to equip housebuilders “with robust financial support from the outset, facilitating smoother project execution.”
The offer is available “across England, Scotland, Wales and Northern Ireland through their locally based teams.”
With this latest enhancement, developers can now “access more substantial initial funding, facilitating better cashflow and project planning.”
Andrew Fraser, Chief Commercial Officer at Assetz Capital, said:
“At Assetz, having lent over £1.7bn, funding 1 in 12 new build homes throughout UK, we understand that initial funding through a larger cash advance is crucial to the success of development projects. Our enhanced offer demonstrates our commitment to supporting developers with the financial resources they need from day one, allowing greater certainty around cashflow. Affordable, reliable and fast funding is what our clients want. This enhancement will provide significant value to our developer clients, helping them manage supply chain and ensuring they remain as liquid as possible”.
This announcement follows a period of significant lending activity for Assetz Capital.
Since its inception in 2013, it has established itself as an industry leader, “providing over £1.7bn in funding to UK construction and development.”
This equates to supporting “the construction of 1 in every 12 new homes built by SME housebuilders.”
Over the next three years Assetz Capital is gearing up “to exceed the milestone of £2bn in funding with support of five key organizations, providing deep funding lines to continue growing as a business.”
As covered recently, digital lender Assetz Capital has shared information on two transactions. Assetz Capital is an online lender supporting the property development sector.
According to the company, one transaction included a £5 million commercial mortgage to refinance an ibis Styles hotel at Waterloo Street in Glasgow, owned by a private equity firm.
The second financing is for a £7 million development finance deal, which will enable the development of three luxury detached properties in Surrey.
