The importance of transparency and consistency when it comes to providing quick bridging solutions for brokers and their borrowers
Even during the Coronavirus crisis, typical capital raise hasn’t been affected in a seemingly large way. Businesses are still looking for funding and there are opportunities appearing in new and exciting ways. Thanks to the lockdown and the rise of remote working, which has allowed for more time spent at home researching and learning, borrowers are becoming more informed and savvier, and as a result are rethinking their positions and what to do with their money.
As we have seen over the last few weeks with the extension of the stamp duty holiday, motivation among movers and buyers is high. The popularity of bridging loans skyrocketed in the countdown to the original stamp duty deadline, as prospective buyers sought cost-effective options to effectively ‘bridge’ the gap between purchasing and selling property.
Alternative lenders have been rising in popularity for some time and because bridging has now evolved into an umbrella heading for additional products, it’s those types of funders who are best placed to service modern bridging loans. There are numerous advantages of looking past traditional funding routes, whether you’re a developer just starting out or you own a string of HMO’s, concrete background stories are not always necessary to cut past the red tape that you may get with a high-street bank.
With Covid restrictions now starting to ease and economic confidence starting to grow, the bridging market right now is healthy - opportunities are rife and people want to invest their money into property. As a lender, we owe it to support potential borrowers who champion this entrepreneurial spirit in a time when a lot of the country has been entertaining a more suppressed view. Bridging is the perfect solution to help UK businesses quickly who need a foot in the door so they can drive the economy forward.
Here at Assetz, we believe that bridging should be transparent and that there’s proper access for brokers and their borrowers all the way through to loan redemption. Whilst speed is critical to our bridging process, transparency and integrity make up a huge part of the relationship-driven ethos with which we aim to deliver our bridges. For a dynamic, target-driven world that we operate in today, our fundamental aim is to make borrowing from us as easy as possible so our brokers can effectively deliver for their clients.
From a leading alternative funder’s perspective, we know people want their money to work harder for them, with property one of the traditionally safer options for investing. The UK property market is soaring at the moment, with this momentum expected to continue as we progress through the stages of the Government’s roadmap out of national lockdown.
As a business, we've viewed the Covid-19 period as an opportunity to listen to our borrowers and brokers and to grow. Post-lockdown and with the country opening up fully, the market is only going to expand further and we look forward to supporting as many opportunities for UK SMEs as we can through our bridging offering.
- April 26, 2021