Published in Best Advice on 29th April 2021.
“Pitch 4 Finance has revealed that it received £66.8m worth of enquiries in its first two weeks since launching to brokers.
The platform says its high volume of cases provides a snapshot of the current commercial lending market.
Data from the platform shows that 40% of applications for lending on property were for new purchases, while 60% were for refinance.
48% of all applications were for lending on commercial property, 36% were for lending on residential property, 8% were for lending on HMOs and 8% were for lending on semi-commercial assets.
The average size of a business loan application was £72,517.
Dan Scott, 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. Consequently, we’ve been able to gain some interesting insights from the platform to provide a snapshot of the commercial lending landscape.”
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