Assetz Capital, a leading funder in the SME residential development market, has announced a significant milestone with the launch of its new 9.35% development finance rate, aimed at providing house builders, brokers, and landowners with a fast reliable financing solution up to 70% LTGDV UK wide. In tandem, decisioning is also available within 24 hours on straight forward transactions.

Andrew Fraser, chief commercial officer at Assetz Capital said, “We’re excited to bring this highly competitive 9.35% rate to market now, when developers are clearly emboldening to build out larger phases on their existing schemes or acquire more land. Our combination of 24 hour speed, service, and certainty of funding offers a real advantage to house builders and brokers who need a trusted partner to get on with their scheme in a flexible manner. With substantial volume ready to deploy for the long term, we’re keen to hear about new developments, particularly from landowners looking to make the most of the current market dynamics”

The update follows recent news of £30.1m of transactions completing across properties in Belfast, Surrey, Glasgow and Leicester.

Fraser continued, “Our ability to stretch LTGDV beyond challenger banks in all locations, alongside keener pricing, is something that brokers and developers have been wanting, to enable new housing to be built at volume – and funded quickly.”

Earlier this year Assetz launched an enhanced initial day 1 funding for development finance schemes up to 70% LTGDV. This strategic initiative provides housebuilders with the cash injection they need at the start of their project.

This recent activity follows a period of significant lending growth for Assetz Capital. Since its inception in 2013, it has established itself as an industry leader, providing over £1.7bn in funding to UK housebuilding and development. This equates to supporting the construction of 1 in every 12 new homes built by SME housebuilders.

Over the next three years Assetz Capital is gearing up to exceed the milestone of £2bn in funding with the support of five key organisations, providing deep funding lines to continue the ambitious growing plans of the business.