BuildLoan has launched a commercial finance proposition following the completion of a pilot over the first quarter of the year.
The new proposition expands on BuildLoan’s range of residential mortgages for self build, custom build, renovations and home improvements.
The newly launched commercial finance offering is now available to intermediaries nationwide and is intended to support a broad spectrum of commercial property transactions, including owner-occupied premises, investment assets and mixed-use properties.
During the pilot, BuildLoan supported a range of commercial transactions, including a £223,000 loan with Allica Bank to fund the purchase of a business centre for renovation and long-term letting.
BuildLoan also worked closely with a selected group of intermediary partners and lenders to assess lending criteria, turnaround times and case complexity during the pilot phase. Insights gathered during this phase led to adjustments in areas such as documentation requirements and underwriting flexibility, with the aim of improving certainty and speed for brokers and borrowers.
Brokers can now submit commercial mortgage, commercial bridging, commercial development and semi-commercial enquiries through BuildLoan’s specialist lending team, with dedicated support allocated to the product line to maintain service continuity as volumes increase.
Raymond Connor, CEO at BuildLoan, said: “Following a successful pilot – which saw plenty of demand from specialist brokers for funding for office blocks, business premises and investment properties for business clients – we are now rolling this out on a permanent basis.
“The pilot allowed us to test the proposition in live conditions and make targeted improvements before committing to a full launch. The response from brokers was encouraging, both in terms of enquiry levels and the quality of cases submitted. That feedback has helped shape a proposition that is as practical, responsive and suited to the realities of the market. We are now going for a full-scale launch given the success of our pilot. We can do commercial lending, too.
“Commercial lending often requires a pragmatic and informed approach, particularly where deals fall outside standard models. Our intention is to provide brokers with a dependable route for commercial cases that need careful assessment and tailored structuring. Moving from pilot to launch reflects our confidence in the proposition and the demand we are seeing across the market.”
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