Published in Mortgage Introducer on 19th April 2021.
“Data from the platform shows that 40% of applications for lending on property were for new purchases, while 60% were for refinance.
Nearly half of all applications (48%) were for lending on commercial property and 36% were for lending on residential property.Brokers are from Mars Fintechs are from Venus
A further 8% were for lending on houses of multiple occupation (HMOs) and 8% were for lending on semi-commercial assets.
The average size of a business loan application was £72,517.
Dan Scott (pictured), director at Pitch 4 Finance, said: “Pitch 4 Finance helps intermediaries to source the best solutions for their clients in bridging, property development, commercial term loans and complex buy to let – and the service has been in high demand in the first two weeks.”
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