FIBA adds Onyx Money to lender panel

FIBA members will have access to Onyx Money’s range of products, which covers development finance, bridging loans, and commercial finance.

On the development finance side, it lends up to 75 per cent gross development value and rates start from 1.25 per cent. Loans range from £250,000 to £10m.

The lender’s bridging finance arm lends up to 75 per cent loan to value from £50,000 to £3.5m, with short loan terms up to 12 months. Three months is the minimum term or minimum interest period.

Its commercial finance side offers loans from £50,000 to £5m available on repayment terms ranging from one to three years. Interest rates also start from 1.25 per cent.

The firm also offers asset finance, auction finance and high net worth finance.

Martin Reynolds (pictured), chairman of FIBA, said: “We are pleased to welcome Onyx as our latest lender partner, having been very impressed with its highly defined approach to servicing of intermediary business and the way it is keen to engage in solid relationships, ensuring all parties add value to our journey together.

“Onyx understands the development of long-term broker business means engagement with brokers in a way that ensures there can be lasting relationships with a highly defined mutual trust. I’ve seen first-hand its commitment to doing away with unnecessary complications, which should ensure brokers and their clients are in good, safe hands.”

Dan Richards, CEO of Onyx, added: “In an ever-changing economic landscape, it is vital lenders are adaptable and supportive of their clients.

“The prospect of channelling Onyx’s unique offering through FIBA’s relationship-led focus is an enticing one, and we look forward to the long and prosperous relationships that will come as a result.”