Propp adds new lender following launch
Propp, the UK’s first specialist property finance comparison site, has added a new lender to its platform which launch last month, adding to the 40 lenders already available.
Ultimate Finance is a specialist asset-based lender that recently reported over 50% growth lending volumes in the past three months compared to the preceding three months.
Propp specialises in bridging finance and commercial mortgages, and hopes to simplify the process for borrowers and brokers whilst driving competition amongst lenders.
Borrowers using the platform now have more products from leading providers to choose from.
Brokers can refer complex cases to Propp when dealing with clients including commercial, bridging and development finance as well as buy-to-let mortgages.
Through Propp’s optimisation service, bespoke quotes are negotiated for and presented back to borrowers within 24 hours.
Josh Levy, chief executive at Ultimate Finance, said: “What Propp is doing is exciting and it’s great to have our products available to their customers so quickly.
“The combination of a simplified process for finding lenders and the optimisation service that Propp provide is a very interesting addition to the market.
“We see significant demand for short-term property finance such as our bridging finance offering, and we are keen to develop this partnership and distribution channel.”
Peter Williams, chief executive at Propp, added: “Despite launching with 40 lenders including high street and challenger banks, it’s great to bring a lender like Ultimate Finance on board who have heard about our proposition and want to be involved.
“It has been great to see the industry recognise what we believe is a positive disruptor for the specialist finance sector.
“We look forward to working with more lenders in 2021 working with us to provide greater transparency and competition for borrowers and investors.”