Assetz Capital has launched a development finance rate of 9.35%, aimed at providing a funding solution for house builders, brokers, and landowners across, offering up to 70% loan-to-gross-development-value (LTGDV).
The firm also announced that decisioning will be available within 24 hours for straightforward transactions.
This announcement followed £30.1m of transactions recently completed in Belfast, Surrey, Glasgow, and Leicester.
Andrew Fraser (pictured), chief commercial officer at Assetz Capital, said: “We’re excited to bring this highly competitive 9.35% rate to market now, when developers are clearly emboldening to build out larger phases on their existing schemes or acquire more land.
“Our combination of 24 hour speed, service, and certainty of funding offers a real advantage to house builders and brokers who need a trusted partner to get on with their scheme in a flexible manner.
“With substantial volume ready to deploy for the long term, we’re keen to hear about new developments, particularly from landowners looking to make the most of the current market dynamics.”
Fraser added: “Our ability to stretch LTGDV beyond challenger banks in all locations, alongside keener pricing, is something that brokers and developers have been wanting, to enable new housing to be built at volume – and funded quickly.”
Earlier in the year, Assetz launched enhanced day one funding for development finance schemes up to 70% LTGDV.
Since its inception in 2013, Assetz Capital has provided over £1.7bn in funding to UK housebuilding and development, supporting the construction of one in every 12 new homes built by SME housebuilders.
Looking ahead, Assetz Capital aims to exceed £2bn in funding over the next three years, backed by five key organisations.
