Pitch 4 Finance sees strong demand for commercial lending

Published on

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.

“One of the most significant trends we have seen is that there are fewer lending options for commercial and retail applications than those secured on residential property. This is unsurprising in the current environment and it’s even less surprising that there are many fewer options available for the hotel and hospitality sector. As the platform grows and gathers more data, we look forward to being able to share even richer insights in the future.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Most Premier League areas enjoy mortgage relief – but four buck the trend

Falling mortgage rates have brought relief to homeowners and buyers in almost every Premier...

Virgin Money and Clydesdale Bank expand criteria and boost approval rates

Virgin Money and Clydesdale Bank have unveiled a series of lending changes aimed at...

Barclays lowers fixed mortgage rates across residential range

Barclays is cutting mortgage rates across its residential range from tomorrow, with reductions of...

Precise marks first anniversary of broker app

Precise, part of the OSB Group, is celebrating the first anniversary of its broker...

Paymentshield expands senior sales team to strengthen intermediary partnerships

Paymentshield has doubled the size of its national account management team in a restructure...

Latest publication

Latest opinions

Could a move to ‘enhanced advice’ also mean mandatory protection conversations?

The FCA’s recent Mortgage Market Discussion Paper (DP25/2) has got the industry talking about...

Take off the rose-tinted glasses and stop chasing a rate cut

Every six weeks the financial world raises its eyebrows at the prospect of a...

Job cuts to inflation shock: preparing for a mortgage arrears crisis

The latest data on jobs paints a picture of a rapidly weakening labour market. The...

URGENT! AI Is coming for you. Or maybe not…

I’ll try to make this as straight to the point as I can. The...

Other news

Most Premier League areas enjoy mortgage relief – but four buck the trend

Falling mortgage rates have brought relief to homeowners and buyers in almost every Premier...

Virgin Money and Clydesdale Bank expand criteria and boost approval rates

Virgin Money and Clydesdale Bank have unveiled a series of lending changes aimed at...

Barclays lowers fixed mortgage rates across residential range

Barclays is cutting mortgage rates across its residential range from tomorrow, with reductions of...