Blue Zest rejects rumours of lending halt as it refines products

  • 23/01/2018
  • 0
Blue Zest rejects rumours of lending halt as it refines products
Specialist lender Blue Zest has confirmed it is overhauling its products and negotiating further funding to extend its packager pilot to a full market launch later this year.

Blue Zest denied rumours it had stopped lending, adding this was down to a mis-communication and told Specialist Lending Solutions that after testing its products it was further refining its offer before launch.

“We launched in November and went in with three of the packagers to test products in the market to see if they actually work,” said Blue Zest chief executive Chris Slater.

“We learned that we needed to change some of our products – some are too different for the market to cope with.

“But we had other smaller brokers come to us and we told them very explicitly that we were not lending, and I think that’s where it’s got confused and that’s a bit of a blow,” he added.


Funding lines

Slater noted that some of the refinements involved sourcing other funding aside from its £1.5bn bond issue to ensure it could compete in the buy-to-let market.

“We’ve brought those forward because we were finding that with the bond we weren’t able to compete effectively at low loans-to-value on buy-to-let – so we’re making sure we’ve got other sources of funding available for that segment of the market so we can then go live with it sometime in the next couple of months,” he continued.

“So at the moment we’re tightening our products, processes and platforms and in the next few weeks we’re going to be firming up our start date for actually lending,” he added.

There are 0 Comment(s)

You may also be interested in


Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.


Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions

Read previous post:
buy to let
Landlords flocking north to buy cheaper properties – MFB

Landlords appear to be moving further north for property acquisitions in search of cheaper prices, according to Mortgages for Business’s...