Peer-to-peer lender Assetz Capital has agreed a new partnership with specialist mortgage packager Positive Lending as it looks to ramp up commercial mortgage loans.
Assetz typically facilities lending to small-and-medium sized businesses and property developers in the UK. This includes commercial mortgages, development finance, buy-to-let for landlords and residential refurbishment.
Positive Lending has previous and existing partnerships with GE Money, Santander, JP Morgan, Lloyds Banking Group, HSBC and Bank of New York.
It helps process applications on behalf of brokers and has structured over £1bn of transactions, assisting over 3,000 intermediaries per year.
Damien Druce, director and head of intermediary sales at Assetz Capital, says the partnership will open a host of new funding avenues for commercial mortgage intermediaries and their borrowers.
“We have already seen the fruits of this partnership being borne, with one loan completed and another two in the pipeline. We look forward to building on these successes,” he said.
