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World's First Peer to Peer Commercial Property Lending Exchange Pitted Against Global Elite(June 06, 2012)
LONDON, ENGLAND -- (Marketwire) -- 06/06/12 -- The world's first commercial real estate lending exchange, Relendex - which is thought to have produced a new and innovative approach to creating growth for UK property - is said to be at an advanced stage of consideration for a place on the prestigious World Finance 100, 2012.
The bespoke and unique service; peer-to-peer lending, connects borrowers with multiple lenders who each offer an individual component of a loan requirement. They then bid the amount they are prepared to lend on a property based on a pre-determined interest rate. The basic idea behind the exchanges is simple: to allow users to borrow and lend money directly between each other, by-pass the banks and achieve better terms. The exchange provides funding for income-producing commercial real estate.
Many savers have been receiving poor interest rates from banks and institutions on deposit or savings accounts recently, so the company works to adjust interest rates in the customer's favour. The live auction process allows for borrowers to receive the lowest interest rate bids, which when totaled together, meet the loan required. The system also puts lenders at an advantage, choosing the interest rate that suits them.
The company's marketplace enables for a whole new asset class, which is neither a savings account nor an investment. Completely independent from anything else in their existing portfolio, lenders can choose their rates and loan lengths, anything from three to five years, and whether they want to lend in a specific credit profile.
The World Finance 100 - a compendium of the year's most innovative performers - will be announced at the end of 2012. To vote for Relendex or submit a different nomination, go to http://www.worldfinance100.com/2012/voting/.
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