New bridging lender enters the market

A brand new lender offering rates from 0.85 per cent has launched into the bridging and development finance market…

Oblix Capital, which officially launched in April, will initially focus on the unregulated side of the market. This includes unregulated residential investment properties, commercial properties, residential refurbishment projects (non-structural) as well as residential development projects where structural changes are required.

From a geographic perspective, Oblix will start to concentrate on the whole of England and part of the Welsh market intialy with rates start from 0.85 per cent and LTVs of up to 75 per cent. The loan sizes on offer range from £30,000 up to a maximum loan of £2 million.

Products

PRODUCTS	Residential Investment Bridge Loan	Commercial Bridge Loan	Residential Refurbishment Bridge Loan	Development Loan
Rates	From 0.85% per calendar month	From 1.20% per calendar month	From 1% per calendar month	From 1% per calendar month
Max LTV	75%	70%	70%	65% GDV
Term	1-12 months	1-12 months	3-18 months	3-23 months
ERC	None	None	None	None
Loan Amount	£30,000 - £2,000,000	£30,000 - £2,000,000	£50,000 - £2,000,000	£400,000 - £2,000,000
Locations	England	England	England	England

The Team

Oblix Capital is made up of professionals from the commercial finance industry and was founded by CEO Rishi Passi.

Rishi has been an investor and developer in the global real estate markets for over 13 years, and this combination of experience means that the team is able to look at applications from a property professional’s perspective at the same time as applying the risk controls that are needed from a mortgage lending perspective.

Rishi said: “Being very new, the team only consist of three people at present, with a fourth starting in May, and it shall remain a core trait of our business strategy to keep a streamlined team in ord