<
p>Bridging lender Oblix Capital has experienced a rise in business after making enhancements over the past six months.
Rishi Passi, CEO of London-based lender, Oblix Capital, has informed B&C that in the past six months, the firm has invested heavily into its CRM system and the automation of its existing business platform, as well as appointing Adam Powell as Director of Sales.
Commenting on the hire, Rishi said: “We look forward to utilising his strengths and experience in the intermediary market, which we are now fully geared to service from an operational standpoint.”
Due to Enhancements, the firm which trades in Bridging and Development finance, has recently seen a considerable amount of business pass its doors with requested loan amounts in the mid-eight figure range.
“Being a provider of both bridging and development finance, naturally the ticket sizes of these loans have varied from as low as £50,000 and as high as £3.2 million,” Rishi said.
He added: “The development marketplace is one that, in our opinion, continues to be under-serviced and under-financed. We hope to continue to bridge the gap in the availability of funding for those clients who cannot obtain high street funding from banks who continue to have little appetite in supporting the small to medium sized developments, irrespective of the experience of the developers, and who also do not allow the borrower to achieve more aggressive returns on their equity.”
Despite the rising volume of bridging lenders in the market, Oblix Capital has recently witnessed a dramatic increase in the number of bridging finance applications, where he stated they have received £15 million worth in just one week.
On the development side, Oblix has a number of projects currently on the books, which vary from ground-up developments to office to resi conversions, covering many areas in the UK such as the North of England, London, Yorkshire and across to the South West.
Rishi said: “We have, on occasion, assisted our borrowers in finding exit strategies with pre-sales through international companies looking to acquire real estate in the UK, a non-standard service that has provided more comfort in our clients’ projects.
“There continue to be plenty of development opportunities around the country and whilst we must continue to be prudent and look for suitable experience in our developers, we are certainly very excited about the months to come and very much look forward to continue working with the wider broker channel.
Bridging lender Oblix Capital has experienced a rise in business after making enhancements over the past six months.
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