Oblix Capital growth sparks rate reduction across bridging range

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Oblix Capital sales director Andy Reid believes the business is on course to fulfil the ambition to be a long-term partner for clients and intermediaries.

Reid, who joined Oblix Capital in March, made his observation as the London-based specialist lender announced they will be reducing their rates across their bridging finance range.

He adds that the announcement follows on from an exceptional growth period for the lender which has seen them secure a new funding line with One Savings Bank; exponentially grow their pipeline and expand into a larger state-of-the-art office premises.

Highlights of the reduction include a 0.05 per cent decrease on its 75 per cent LTV residential bridging rate. In addition to this, both commercial and semi-commercial bridge products have had an entire rate reduction across every loan-to-value size.

Reid explained: “As a business, we are currently undergoing a very strong growth period and our latest investments into brand-new offices along with a full rate reduction underpins our ambition to be a long-term partner for our clients and intermediaries.

“We are constantly reviewing our products and services to ensure we consistently support our partners' projects and growth plans in the best way possible.  This rate reduction will also be a timely boost considering the recent base rate increases.”

Reid became the director of sales at Oblix Capital five months ago from Hampshire Trust Bank, where he held the position of head of business development and was responsible for driving business through the commercial division.

He has more than 30 years of experience in the financial industry and previously served at InterBay for more than nine years, where he was responsible for key relationships between partners and brokers.

At the time of his recruitment, he said: "I am incredibly excited about joining Oblix Capital, a highly respected and significant business operating in the bridging and development sector.

“While a relatively young company, the existing team has created a fantastic lending model combining a 'can-do' attitude to meeting broker and client needs through proactive decision making and a passion to deliver.

“I am thrilled at the opportunity to further develop and grow the business and will be working closely with Adam Powell, an industry friend and colleague of many years, who is taking up the role of director of business development."

Rishi Passi, CEO at Oblix Capital, said he was delighted at the appointment. He added: “We are extremely happy to welcome Andy to Oblix, he is a great addition to our rapidly growing company and will further strengthen our sales team.

“Andy’s extensive experience and industry knowledge will play a vital role in helping us achieve our plans for expansion in 2018.”

Carl Eldridge is a journalist with more than 25 years’ experience working on local and then national newspapers, including a spell on the City Desk at the Daily Express, before switching from print media to the internet.

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