Assetz reports rising requests for commercial mortgage refinancing
Assetz Capital has seen a spike in requests for the refinancing of commercial mortgages, after a number of other lenders moved away from commercial property lending post-Covid.
Senior relationship manager Luke Carter revealed in a blog post on the company’s website that Assetz had seen an increase in the number of refinancing requests over the past couple of months.
He noted that this may be due to the fact that other lenders’ appetites may have reduced or changed to focus on different sectors post-Covid.
However, he pointed out that an abundance of alternative lenders should ensure that there is plenty of funding available for small- and medium sized enterprises (SMEs) in the commercial property space.
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“The number of alternative lenders has increased over the last few years – including ourselves of course – and this trend has continued, with more niche lenders now entering the market,” Carter said.
“It will be interesting to see how this plays out in what is a competitive environment, and whether some of the new/smaller lenders have the liquidity to survive in the medium to longer term.
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“Assetz’s mix of peer-to-peer and institutional funding should ensure we are well positioned to continue to grow and our decades of experience within the team mean that we can navigate through situations like the pandemic and come out in a strong position.
“Borrowers’ growth prospects look good, as there appears to be a variety of funding sources available in the market, unlike pre-2010 when there were very few non-high street bank lenders.”
Assetz Capital’s chief executive Stuart Law recently said that alternative lenders should step in to fund the construction of factory-built eco homes to address the housing crisis.