{"id":1,"date":"2018-01-05T16:34:54","date_gmt":"2018-01-05T16:34:54","guid":{"rendered":"https:\/\/magnetcapital.co.uk\/?p=1"},"modified":"2019-08-22T15:00:00","modified_gmt":"2019-08-22T14:00:00","slug":"new-style-lending-with-old-fashioned-principles","status":"publish","type":"post","link":"https:\/\/magnetcapital.co.uk\/opinion\/new-style-lending-with-old-fashioned-principles\/","title":{"rendered":"New style lending, with old fashioned principles"},"content":{"rendered":"

I\u2019m getting asked a lot these days what it\u2019s like to start a new lender in such a testing, saturated market. My response is that I don\u2019t see us as a new market entrant. Ultimately people do business people. The Magnet Capital team is obviously a relaunch of a previous business, but it\u2019s great to be able to bring something fresh and innovative to the table. In my opinion the key to succeeding in today\u2019s marketplace is innovation. As a lender, do we dare to do things a little differently?<\/p>\n

The beauty of development finance<\/a> is that there\u2019s more than one way to skin a cat. Our approach is deeply rooted in decades of \u2018old fashioned\u2019 lending principles, however, we are twinning this with a new style of doing things including technology that allows us to be as efficient and streamlined as ever.<\/p>\n

My main concern about introducing too much tech as a core part of a lending business is that you run the risk of depersonalising the borrowing experience. As I mentioned, people do business with people, and I think when you\u2019re borrowing money to support the growth of your business it should be done face to face with individuals you can trust, and not a computer screen. At Magnet Capital we place a big emphasis on meeting every single person we lend to, in our office before the loan starts and then on the development site whilst the building project is ongoing. Aside from being great for building relationships, as a lender I think it\u2019s vital to go and look at what you\u2019re lending on. It\u2019s not rocket science, it\u2019s a bit old fashioned, but it\u2019s amazing how many lenders aren\u2019t too interested in looking at what they\u2019re lending on, and meeting the people they\u2019re lending to.<\/p>\n","protected":false},"excerpt":{"rendered":"

I\u2019m getting asked a lot these days what it\u2019s like to start a new lender in such a testing, saturated market. My response is that I don\u2019t see us as…<\/p>\n","protected":false},"author":2,"featured_media":331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[9],"yoast_head":"\nNew style lending, with old fashioned principles - Magnet Capital<\/title>\n<meta name=\"description\" content=\"Magnet Capital is very excited to re-launch but is not a new player in the market. 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