Deal increases market connection for both specialist lenders
Specialist originator Assetz Capital has announced a new partnership with Atom Bank, allowing it to become a key introducer of commercial mortgage loan applications to the digital lender.
The partnership will allow Atom bank to broaden its access to new areas of the UK market through a key distribution partner with an origination team covering the whole nation.
The collaboration follows Assetz’s direct lending growth, having recently surpassed £1.7 billion of property secured business lending completions. Atom bank has also announced that it has generated over £1 billion in commercial mortgage quotes since coming back on sale in April.
“This strategic partnership with Atom will help Assetz to extend our reach in the owner-occupied and professional property investor commercial mortgage market space nationwide,” commented Andrew Charnley (pictured), managing director at Assetz Capital.
“Atom bank is a further strategic partner for us, sharing Assetz customer values and, through this new relationship, expanding our funding support for commercial mortgages to all trading businesses, property investors, and importantly also the large care sector.
“Both Atom and Assetz have played significant roles supporting SMEs during Covid-19, as accredited standalone lenders under the Coronavirus Business Interruption Loan Scheme, and it is upon this support of the UK commercial mortgage market that we wish to build.
“We are excited that Atom bank has strengthened its commitment to supporting small businesses through us. Alongside a wide range of institutions, it’s great to see our model being leveraged as a key solution towards increasing the flow of funding to the economy at this time of need.”
David Castling, head of intermediary distribution at Atom bank, added that a partnership with a specialist originator such as Assetz complemented the lender’s existing broker network.
“It provides us with access to new professional and direct markets for commercial mortgages,” he said. “We want to help as many businesses as possible, with our sights set on growth as we offer brokers and customers alike a better lending experience.”
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