Specialist lender FutureBricks has joined Twenty7Tec in a move that will introduce its updated lending criteria to intermediaries.
Brokers will be able to access FutureBricks’ bridging and development product range for residential-led loans, offering up to 80% LTGDV.
FutureBricks stated that its model has been expanded to include the onboarding of institutional funders following the scaling of its corporate arm.
Each bridging loan product has a minimum loan size of £50,000 and a maximum loan size of £1m, while development loan products have a minimum loan size of £100,000, and a maximum £1m.
FutureBricks head of underwriting, Gareth Ward, commented: “FutureBricks is already an innovator in providing bridging and development loans to the SME developer market. We often see small ticket facilities overlooked by large sectors of the lending market whereas we recognise huge demand for smaller, short-term bridging and development facilities.
“By aligning ourselves with Twenty7Tec, we are now more easily identifiable to brokers and borrowers in this sector and can expand our offering to a much wider group.”
Twenty7Tec head of lender relationships, Nathan Reilly, added: “We always welcome the opportunity to work with lenders, intermediaries and third parties that share our passion for innovation. With this in mind, we’re really pleased to have added a tech-led lender like FutureBricks to CloudTwenty7 so advisers can access and source its product range and criteria.”
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