Blend Network launches one-on-one sessions to support brokers
Peer-to-peer property lending platform Blend Network has launched a new service offering brokers one-on-one sessions to support them through live deals.
Dubbed the broker “office hours”, Blend Network will hold 20 minute sessions to discuss deals and go through a live deal underwriting session, hosted by associate director Daniel Netzer.
Netzer is a former property developer who worked on schemes with up to £15m in gross development value (GDV), in and around North London. The deals that are accepted will have terms issued at the end of the session, Blend Network said in a statement.
The first session will be held on Friday 4 February between 10am and 12pm.
“We feel that the pandemic and working from home has highlighted the importance of being an accessible lender,” Netzer said. “So, it is very important for us at Blend Network to make ourselves available to brokers who want to discuss live deals or who simply need valuable advice on funding issues they may be facing.”
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Based in London, Blend Network is a development finance lender to UK small- and medium-sized enterprise property developers. The group recently launched a new high-gearing product that offers up to 75 per cent loan-to-GDV and up to 90 per cent loan-to-cost. The Blended facility, which combines mezzanine and senior debt, is available to developers who are looking to work on residential schemes of up to £10m GDV.
Earlier this month, Blend also launched a refurbishment financing product. It said loan values will range between £500,000 and £10m, with rates starting at 0.65 per cent per month.
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