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Peer2Peer Finance News | August 17, 2019

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Assetz launches legal panel to support borrowers in Scotland

Assetz launches legal panel to support borrowers in Scotland
Suzie Neuwirth

ASSETZ Capital has launched its first legal panel, to help its Scottish borrowers choose a solicitor more easily.

The peer-to-peer lender has secured partnerships with six law firms in Scotland, who it said will provide a more efficient and cost-effective solution to borrowers in the firm’s UK – North region.

Assetz said it is offering savings of £250 on legal fees per transaction if a panel solicitor is used to act for the borrower.

The legal panel consists of Boyd Legal Solicitors, CMS, Gillespie Macandrew, Gilson Gray LLP, Harper Macleod LLP and Lindsays.

Read more: Assetz Capital’s chief commercial officer departs

All six firms have experience of working on deals in the Assetz product range, the P2P lender said, which includes development finance loans, commercial mortgages, residential refurbishment loans and bridging loans.

“For our clients who find it difficult when choosing a solicitor, we’ve built this panel of experts to help streamline the process and make their lives easier,” said John Hewitt, regional director, UK – North at Assetz.

“We are extremely excited to be working with such an experienced list of lawyers, who have provided an impeccable service through the years in which we have been working together.”

Assetz Capital has lent a total of £820m since its inception in 2013.

The firm closed a £1.86m equity funding round on Seedrs earlier this month, which it said would support the next stage of its growth.

Assetz has previously said that it continues to evaluate a stock market flotation as a future step.