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Peer2Peer Finance News | August 25, 2019

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Assetz Capital to expand broker network “significantly”

Assetz Capital to expand broker network “significantly”
Kathryn Gaw

ASSETZ Capital has announced plans to increase its national broker network “significantly” over the next two years, as part of a new expansion strategy.

It comes after the firm announced a record quarter of more than £60m in facilities, as it approaches its £300m lending milestone.

Chief executive Stuart Law (pictured) acknowledged brokers’ contribution to this growth, predicting their role will increase as peer-to-peer lending grows in popularity.

Read more: Lendy boosts broker network with OFF3R and Welltrado

“While some of our business has come directly from SME businesses, the significance of the broker market is not to be underestimated in their contribution to Assetz Capital’s continued growth and success,” said Law.

“We see brokers as truly complimentary to our direct offering, and as the alternative finance market develops, they will play an even more important role.”

“Our new strategy will provide further support to our existing network of brokers as well as to help new ones make the most out of the multiple opportunities which our competitive finance presents to them. We would love to hear from more brokers looking for flexible and well-priced lending partner.”

The platform intends to use its existing network of regional relationship directors to kick start the expansion, and help support more brokers at a local level.

It also plans to make further product and pricing improvements, and to raise awareness of the P2P sector by holding a series of broker events across the UK.

Read more: Assetz Capital’s rate hike attracts £10m in three weeks

“We would like to thank all of our brokers who have helped us lend around £300m to businesses,” added Law.

“With rates on commercial mortgages starting from 6.9 per cent, development finance from 7.9 per cent, bridging from 0.65 per cent per month and renewables from 8.9 per cent we are seeing real traction on winning business.

“In June for example we advanced a new record £31m facilities and also had a record quarter of more than £60m of facilities.

“In fact, in June development lending alone was approximately four per cent of the entire development funding provided by all UK banks (based on BBA data). It is great to be supporting UK SMEs and smaller house builders to such a level.”