Bridging finance company Fluid Trust launches in Manchester
A new bridging finance company Fluid Trust has launched in Manchester.
The company is led by CEO Ansar Mahmood (pictured above) and operations director Will Jackson, and offers bespoke, flexible loans for property projects.
Via its Fluid bond product, Fluid Trust offers investors the chance to support new property projects across the North West and the rest of the UK, with returns fixed and secured against assets.
Ansar said that it hoped to raise £20m within the next eight months.
“The Fluid bond differs from other bonds in two main ways,” said Ansar.
“First, the investment comes with an attractive interest rate of 6% per annum fixed for the three years in which the bonds are held.
“Second, it can be held through an Innovative Finance Isa (IFIsa) and delivers interest payments on a quarterly basis – in contrast to most Isas that work annually.
“And while the minimum investment is £2,000, any investment under £20,000 is tax free.”
The investment raised will be used as lending capital to provide asset-backed bridging loans for projects across the UK.
“With the perception that high street banks and other traditional lenders are slowing down the rate at which they are willing to lend, the need for bridging providers has never been greater,” added Ansar.
“It’s becoming more difficult in the current climate to obtain a loan – which is placing greater emphasis on the need for a quality bridging provider.”
Will added: “The need for bridging providers is bound to increase further, and a highly professional, industry experienced, quality-driven player is precisely what is needed in the current lending climate.
“Fluid [is] committed to ensuring an accessible, responsive and dependable service – maintaining strong communication links with all parties to ensure Fluid lending [assesses] applications quickly and effectively.”
Article can be found on: www.bridgingandcommercial.co.uk