Brickflow issues record £ 88million in loan terms in November

Brickflow reported a record number of loan terms issued through its agreements forum in November, totaling £ 88million.

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Through the company’s negotiation forum, developers enter their project details, after which Brickflow’s algorithms select the lenders most likely to make a loan offer.

Borrowers can then choose up to five lenders to bid in a blind auction.

In November, the development finance search engine secured LTGDV facilities ranging from 50% to 83% for 17 real estate developers who needed financing for projects in the residential, hotel, HMO, retirement life, industrial sectors. light and assisted living.

The most significant case was a £ 29million loan agreed to at 66% LTGDV and 7.5% per annum for a £ 44million GDV residential conversion project in London.

Brickflow also facilitated a £ 7.8million loan at 83% LTGDV and a blended senior and mezzanine rate of 8.49% – the highest LTGDV of any deal issued.

Ian Humphreys, co-founder and head of loans at Brickflow (pictured above), said: “By creating an auction environment, borrowers are receiving the most competitive rates in record time.

“Our online tools help clients make perfect presentations for lenders, with new users saying they can do it in 15 minutes.

“Our goal is to connect borrowers and lenders in seconds and give developers transparent and fast access to real estate finance.

“Judging from the activity in November, I have no doubts that we can become a leading facilitator in the UK for all development finance transactions.”


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