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Assets Capital starts development loan interest rate, TSB raises real estate prices

Assets Capital introduced new development loan rates and TSB increased some housing products by up to 10 basis points.

The real estate finance company says it is offering financing rates of up to 70% of the total development value at 9.35% for home builders, agents and landlords.

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It added that decisions on “simple transactions” could be made within 24 hours.

Andrew Fraser, chief commercial officer at Assets Capital, said the move “comes at a time when developers are clearly looking to build larger phases into existing schemes or acquire more land.” said.

“The combination of our 24-hour speed, service and financing certainty provides significant advantages for home builders and brokers who need a reliable partner to move forward with their plans in a flexible manner.”

“As we are poised to deploy significant volumes over the long term, we are keen to hear about new developments, particularly from landowners who want to make the most of current market dynamics. .”

Meanwhile, TSB has increased prices for two-year and five-year fixed rate first-time buyers and movers by up to 10bps between 90% LTV and 95% LTV.

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