New bridging finance company Fluid Trust has launched in Manchester. Fluid Trust is led by Chief Executive Officer Ansar Mahmood and Operations Director Will Jackson.
Serial entrepreneur Ansar says investors are being given the chance – through the company finance product ‘Fluid Bond’ – to support a raft of new property projects across the north west and the rest of the UK, with returns fixed and secured against assets.
Fluid’s Bond promises an attractive interest rate of 6% per annum fixed for the three years in which the bonds are held.
Ansar, Vice-President of the UK North Chapter of the global entrepreneurs’ network TiE, said the new company’s target is to raise £20 million within the next eight months.
“The Fluid Bond differs from other bonds in two main ways,” said Ansar, who is also founder of Manchester-based Pomegranate Consulting.
“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.”
Ansar, who will work closely with Fluid Operations Director Will Jackson, said investment raised will be used as lending capital to provide asset-backed bridging loans to exciting projects throughout the UK.
He said: “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.
“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. And that’s where Fluid Lending come in.”
Members of the Fluid Trust team have previously worked on deals including development funding on a prominent 64-Unit residential development in Manchester City Centre; asset purchase funding for business expansion within the TV industry and pre-auction purchase of a successful high-street retail/processing unit.
Will Jackson said Fluid’s extensive knowledge of property finance ‘means we can tailor each loan to each individual company, whether it be a small or large project’.
He said: “Ansar and I believe that within the current lending arena there is room for a highly professional, quality-driven player.
“One of the major considerations for clients when choosing a bridging lender is how quickly these transactions can be completed. The interest rates are reflective of this requirement, as well as the short-term nature of the loans.”
He 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 assess applications quickly and effectively.”