Commercial mortgage loans hit £84m at Assetz Capital
Peer-to-peer lender Assetz Capital is seeing increased demand for commercial mortgage loans, with 145 deals completed, at a combined total value of £84m, since the business was founded in 2013.
The alternative loan provider has seen demand for loans increase year on year. Since the turn of the year, the firm has already completed more than half of the total number of deals made in 2017, with 32 deals worth £22m. In total, 60 deals worth £43m were completed in 2017, at an average of 15 deals per quarter – a further rise on the 46 deals worth £17m seen in 2016.
Assetz has provided loans for a range of hotels, pubs, guest houses, and leisure facilities to facilitate property development and growth investment. Recent deals include providing:
- £2m worth of finance for Signature Hotels, the number-one ranked hotel in Liverpool,
- £412,000 loan for Nevo Sound Ltd to assist in the purchase of a mixed-use property to relocate the business from rented premises with a flat above to let
- £280,000 worth of finance for Graham Tobias and Simon Elliot to fund the purchase of The Royal Oak Inn,
- £121,000 loan for Daniel Cox and Jenna Bladon to assist in the purchase of a trading pub with a cash deposit and makeweight security
Dedicated to widening its commercial mortgage offering to service this growing demand, Assetz Capital has partnered with specialist distributors Complete FS, Crystal Specialist Finance and Positive Lending to open new funding avenues for commercial mortgage intermediaries and their borrowers.
Established in 2013, Assetz Capital provides alternative loans to small-and-medium sized businesses and property developers in the UK. It offers a range of funding solutions including development finance and buy-to-let for landlords and residential refurbishment.
Damien Druce, pictured, Director and Head of Intermediary Sales at Assetz Capital, said:
“We have seen a marked upturn in the number of businesses looking to source mortgage loans. Not only does this add to the overall picture of a prosperous market, but it shows how businesses that previously would have struggled to access traditional funding are making use of alternative options to fulfill their requirements.
It’s really rewarding to have been able to match such a high number of clients to the funding they require to underpin further growth. We are committed to helping SMEs access finance, and we value our intermediary partners who are an integral route to market.”