Friday, February 23, 2024
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Assetz Capital has introduced a new Planning Assistance Loan scheme with a £100 million funding pot to support the conversion of commercial buildings into residential units.
The lender’s new product is designed to assist experienced property developers in acquiring commercial properties for redevelopment into residential, PBSA, or PRS projects, with an option to transition to a Refurbishment Loan upon securing Planning Permission.
Launching with a 10.5% fixed rate, the initiative comes as a response to recent interest rate fluctuations, aiming to bolster developers amidst the financial unpredictability.
This move aligns with Assetz Capital's strategic expansion, including a recent £200 million lending partnership increase with Aros Kapital, underlining its dedication to facilitating urban redevelopment and contributing to the growth of essential housing stock.
Call Trinity Specialist Finance to secure a mortgage on 020 7016 6151 or book a consultation
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