Relendex launches P2P exchange
The Relendex exchange matches borrowers with lenders willing to provide parts of a loan which are fixed interest and secured against income-producing commercial property.
Relendex will lend on retail, offices, industrial, leisure and some residential properties with loans ranging from £500,000 to £5m.
Michael Lynn, chief executive of Relendex, said: “Relendex was conceived to provide a simple solution to a major problem.
“With the banking sector all but moribund, property owners cannot satisfactorily refinance high quality real estate assets.
“Meanwhile, potential lenders are becoming frustrated at the lack of returns on traditional investment and asset classes.
“We’re solving this by bringing lenders and borrowers directly together in an open, transparent and trustworthy online exchange.”
The peer to peer lending market in the UK has been growing and the UK government has recently committed £30m to leading P2P exchanges as part of the Business Finance Partnership.