RATESETTER has expanded its property development finance team in the South West of England with the appointment of Ian Granger as business development manager.
Granger, who has worked in business banking for HSBC, NatWest and most recently for structural warranty provider Premier Guarantee in the South West, will oversee client management and development in Somerset, Devon and Cornwall.
“I am very much looking forward to helping developers across the South West access the funding they require,” Granger said.
“I strongly believe that relationship managers with expert local market knowledge have a significant role in ensuring that developers receive the best possible service.
“RateSetter, as an independent and respected funder, is committed to providing this support.”
Read more: RateSetter hits £3bn lending milestone
Read more: P2P set for fundraising boom in 2019
Neal Moy, head of property finance at RateSetter, said Granger’s “wealth of experience and in-depth knowledge of the sector in the South West” will be big assets as the platform expands.
“More than 20 per cent of our property development loan portfolio is located in the South West and we are confident that we can build further on this momentum,” Moy said.
The peer-to-peer lender’s property finance division offers loans ranging from £500,000 up to £10m with a maximum loan-to-value of 65 per cent or 80 per cent of loan-to-cost.