Karl joins the P2P lending platform’s property finance team from Assetz Capital, where he oversaw the delivery of bridging, development and commercial mortgages to SMEs.

Prior to joining Assetz Capital, Karl spent over two years as real estate relationship director at Lloyds Banking Group, where he was responsible for a portfolio of £100m of assets across the Yorkshire area.

He also spent 20 years at RBS working across retail, business and commercial finance.

In his newly-created role, Karl will develop RateSetter’s property finance proposition in Yorkshire and north-east England.

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“It’s great to have Karl on board,” said Neal Moy, head of property finance at RateSetter.

“He’s got fantastic experience, which will be instrumental as we look to expand our reach in the North East of England.”

RateSetter property finance offers loans from £500,000-£10m with a maximum LTV of 65% or 80% loan to cost.

“With the banks still unable or unwilling to provide the finance that SME housebuilders so badly need, there’s a great opportunity for RateSetter’s simple, flexible and competitive property finance offer in the North East and Yorkshire,” said Karl.

“I’m looking forward to working closely with property developers across the region and to playing a part in RateSetter’s growth story.”