Assetz Capital has seen a rise in enquiries for commercial and investment mortgages.
Lucie Martin, a relationship director at Assetz Capital, said she has had more requests for commercial and investment mortgages with demand shifting away from residential development loans that are taking longer to complete compared with term loans.
She said this comes as Assetz Capital picks up borrowers who have struggled to get loans from traditional lenders who may be focusing on their existing customers.
“With residential developments currently taking longer to complete in large part due to the pandemic and Brexit, demand appears to have temporarily shifted in favour of term loans,” Martin said in a blog on Assetz Capital’s website.
Martin said that after the extended break in lending outside of emergency finance schemes, the platform feels like it is starting to get back to a semblance of normality.
“It’s great to be able to offer loans from our retail platform again, enabling Assetz to support borrowers with development and term loans that don’t fit the eligibility criteria of the government schemes,” Martin said.
“With the market opening up, we are also able support borrowers in the leisure, hospitality and office sectors which is fundamental to our economic recovery. Being an authorised lender under the recovery loan scheme gives us greater flexibility in our offering.”