Fitzrovia Finance unveils platform for private investors
Secured property lender Fitzrovia Finance has launched a £100m institutional platform to private investors with returns of up to 5.5% per annum.
These are derived from investing in carefully selected property companies, secured on quality properties with first charge security and in excess of 150% asset cover. This means every £100 loan for example, is secured against £150 of bricks and mortar assets.
Katia Pourgalis, chief operating officer of Fitzrovia Finance, said: “We compete by offering better rates to better borrowers, in less time and with less hassle, armed with the insight and hands-on experience of our seasoned lending team.
“We then make these attractive, property-backed returns to our preferred borrowers available to investors with ease and convenience via our state-of-the-art platform.”
Brad Bauman, chief executive of Fitzrovia Finance, added: “In addition to focussing on carefully managing risk, and maximising security, our experienced professional lending team ensures investors are given access to carefully vetted property lending opportunities and prudently monitored loans on an ongoing basis.”
Fitzrovia Finance focuses on providing investors, with the enhanced reassurance of a business built and run by a highly experienced, expert team operating a ‘7 Step Risk Control’ process developed over many years of experience and success in property lending.
As a result of this, it rejects around 80% to 90% of loan requests and to date it has not experienced any defaults.
Through Fitzrovia Finance, private investors can now join institutional investors in securing attractive returns – currently up to 5.5 – from secured property lending.
Fitzrovia Finance’s lending is focussed on experienced residential and commercial property developers, with a strong record of successful projects.
Typical loan durations are 12 to 48 months and the maximum loan-to-value is usually limited to 65% or less of development value.
Fitzrovia Finance competes with mainstream lenders, including the major banks, to lend money to established, experienced property businesses looking to borrow for projects of between £1m and £15m.
Phillip Rose, chairman of Fitzrovia Finance said: “The launch of Fitzrovia Finance provides further evidence that the online lending arena is entering a new phase, marked by experienced players from established business sectors launching institutional quality platforms to offer the best of the old and the new.
“Fitzrovia Finance is combining the established group’s lending pedigree with the efficiency, value and open access of its platform to offer investors more choice, better service and a stronger focus on security.”
Investors can either select individual property-backed loans they want to invest in via the ‘Fitzrovia Freedom’ option, or they can use the ‘Fitzrovia Smart’ option which automatically and intelligently spreads investments against a pool of loans.
These are selected from Fitzrovia Finance’s portfolio to invest with one-touch convenience.