Peer-to-peer lender provides £26m since Belfast office opening

By Bridging Loan Directory 25th June 2018

Assetz Capital has provided over £26m worth of peer-to-peer funding in Northern Ireland since opening its Belfast office in January 2018.

The office, which is situated in Belfast’s financial district, has completed 15 deals in Northern Ireland, amounting to £26.3m in total. The deals include a mixture of SME secured loans, commercial mortgages, bridging loans, property investment loans and development transactions. The company has also projected a further £18.8m worth of deals across Northern Ireland in the second half of the year.

Most recently, Assetz Capital facilitated a £355,000 development loan to Mill Lane Homes Ltd to fund the construction of a four-bedroom detached property in Donaghdee – 19 miles east of Belfast. The firm provided Richard Agnew, Director at Mill Lane Homes, with £135,000 in order to purchase the site and a further £200,000 to fund the build of the 2,500 sq. ft. development.

Andrew Fraser, Relationship Director for Assetz Capital in Northern Ireland, said:

“There has been strong appetite for peer-to-peer funding in Northern Ireland. We’ve made good progress since opening the Belfast office five months ago, and have continued to back ambitious business owners and property investors in Northern Ireland from the outset.

“Whilst lending £26m in such a short timeframe is notable, we now have our sights set on the £50m milestone. There is a strong pipeline of deals for the second half of the year and we’re confident that, with the ongoing support of our customers and broker network, we will see similar levels of lending during this period.”