New short-term lender Breeze Capital enters the market

The firm offers a range of short-term lending products, including bridging loans and ground-up development finance solutions for residential, commercial and industrial properties.

Loans between £50,000 and £3m are available on terms up to 24 months for both bridging and development, with interest rates starting from 0.75% per month.

The business was founded by Stretton Capital’s former director of business development Mark Harrison (pictured above), and is supported by a HNW family, in addition to institutional funding lines.

Following its launch, Breeze Capital aims to lend a minimum of £12m, but expects to complete £15m in its first full year of trading.

“Once we are happy with our systems and processes, we aim to supercharge our business and we are targeting a 60% year-on-year increase in the second year,” Mark added.

The business anticipates its main borrowers to be experienced developers and landlords.

It will also consider clients with extensive refurbishment experience looking to make the first step into sub-£1m ground-up property developments.

Commenting on the launch, Mark said it was always set to go live this month, undeterred by the current market turmoil.

“Nothing we have seen recently has changed our minds,” he said. “If anything, we see this as a huge opportunity for a small, lean and well-funded lender like us.

“The property market is cyclical and as long as you have the experience within your business to understand risk, we see no issues at all.”

Mark brings a wealth of experience to the helm, having previously held senior roles at the Bank of Scotland and GE Capital.

“The last two years or so have changed my outlook on life, particularly my working life and it’s hugely important that my colleagues and I enjoy what we do,” said Mark.

“A vibrant working environment, speedy, fuss-free lending, and the opportunity to grow a substantial lending business are things most people in this industry would aspire to, and I am delighted to have this opportunity.”