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The Assetz Capital platform is no longer open to investment from individual investors. No new investments into peer-to-peer loans are possible and, as a result, no new funds should be deposited. The existing loan book relating to the Retail platform is now in run-off and this will, over time, deliver the return of capital to investors. Full information can be found here . Existing Retail lenders can still log in, view information regarding their account and loan holdings and operate their account in accordance with the information regarding the run-off provided on the link above. Please see this important message regarding the currency of the information on the pages on this website.

Peer-to-peer first for Ward Hadaway

Peer-to-peer first for Ward Hadaway

Peer-to-peer lending is a fast-growing source of funding in the UK and US. It works by individual investors using platforms such as Assetz Capital's online platform to invest in loans jointly with other investors to provide funding to borrowers in a range of different sectors.

Debt-based peer-to-peer lending such as that operated by Stockport-based Assetz Capital is fast emerging as a source of reliable funding for borrowers such as SMEs, property investors and developers. Having launched in March 2013, the platform has facilitated more than £23m of lending and expects the figure to exceed £100m by 2015.

The Assetz Capital platform provides working capital for SMEs, and bridging, development and investment finance to the property sector.

Michael Forgrave, managing director at Gower Homes, commented: “I was delighted to agree a funding package with Assetz Capital. I found them to be a very professional, fast-moving organisation, which is evidenced by the fact that less than ten weeks passed between our initial meeting and first drawdown. Many claim to be supporting the SME Housebuilders in the regions; Assetz Capital really are.”

Mark Smith, Banking and Finance Partner at Ward Hadaway, provided legal advice to Assetz Development Capital on the loan to Gower Homes.

Mark said: "We are delighted to have advised Assetz Capital on what is a significant deal in terms of the financing of a new-build housing development.

"The peer-to-peer lending sector looks set to grow substantially over the next few years as developers search for new sources of funding and investors look to access new ways to access the property market.

"Assetz Capital is run by very experienced and prudent bankers who carefully check the lending propositions and put together a comprehensive security package and get proper professional advice from experienced valuers and lawyers."

David Penston, MD property lending at Assetz Capital, said: "This is a significant deal for a number of reasons, and it’s gratifying to be able to fund such an important project. Developments such as these boost much-needed housing supply, create jobs and help the local economy. I would like to thank Mark and the team at Ward Hadaway for their splendid work in getting this funding deal over the line.

"Their proactive, positive and helpful attitude was much appreciated by the parties to the deal."

Mark Smith at Ward Hadaway has advised on a wide range of property-related financial transactions for over 20 years.

He has acted for a whole range of funding clients including UK and overseas banks, building societies, insurance companies and funds as well as quoted and private borrowers.

- April 15, 2014

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