Twenty7Tec and FutureBricks introduce updated lending criteria to intermediaries
Specialist lender FutureBricks has joined Twenty7Tec, introducing 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% loan-to-gross-development-value (LTGDV), with its model 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.
Each development loan product has a minimum loan size of £100,000 and a maximum loan size of £1m.
Gareth Ward, head of underwriting at FutureBricks, said: “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.”
Nathan Reilly, head of lender relationships at Twenty7Tec, 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.”