Brickflow has secured its first unique price from a lender, and expanded its lender panel to incorporate greater than 100 lenders.
The unique price, now accessible to the greater than 180 brokerages presently utilizing the platform, was offered by Hana Capital, providing Brickflow brokers bridging finance at 70% loan-to-value (LTV) at a price of 0.99% per 30 days – a price usually reserved for loans at 65% LTV, and 0.16% per 30 days, or almost 2% on an annual foundation, decrease than its standard price.
With entry to platform information, the lender was capable of see the place they ranked on worth in contrast with the remainder of the lender panel, and lowered their price accordingly in a bid to show extra aggressive to potential debtors.
Ian Humphreys, CEO and founder, Brickflow, stated: “We launched Brickflow with the goal of offering larger transparency for debtors, brokers and lenders, in an effort to facilitate cheaper borrowing and extra offers.
“This can be a nice instance of how transparency can stimulate competitors inside a historically opaque market, and the way lenders with easy accessibility to reside market information and the pliability to supply unique charges, can finally show extra aggressive.”
Hersh Patel, director, Hana Capital, added: “To conduct a competitor evaluation and set up the place we sit throughout the market would usually take days, if not weeks.
“Having this information at our fingertips due to the Brickflow platform means we’re capable of supply extra aggressive charges for debtors.
“Wholesome competitors throughout the market can solely improve buoyancy, which advantages everybody concerned, from borrower to dealer to lender.”
