The lender has also introduced a 87.5% loan to cost (LTC) for development loans.
According to the firm, these measures have been designed to help SME developers accelerate their housebuilding and improve cash retention.
- The Finance Professional Show 2024: The Video
- Assetz cuts finance rates to 9.1%
- Assetz launches development rates from 9.35% via Brickflow
Assetz Capital CCO Andrew Fraser (pictured above), described this product alteration as offering a “more aggressive and developer-friendly solution” for developers.
“A lower equity requirement means developers contribute less upfront capital, freeing up cash for other projects,” added Andrew.
“Reducing the need for [mezzanine finance] will keep things more profitable and allow developers to spread their cash across more schemes.”
Leave a comment