FIBA announces addition of Factored to its lender panel

17 July 2024

The Financial Intermediary & Broker Association (FIBA), part of SimplyBiz, has announced the addition of landlord finance specialist Factored to its lender panel.

Factored is designed to help landlords unlock capital by selling their future rental income rights. The unlocked finance, which can also be used for property related expenses such as service charges, mortgage payments, tax obligations, refurbishments, and repairs, allows landlords to protect their credit score, requires no hard credit checks, and offers discounts for early settlements.

Martin Reynolds, Chair of FIBA, commented:

“The Factored proposition is an interesting opportunity for those landlords who might be looking to develop their existing properties, add green efficiencies, or retrofit. As the new Government releases details of its plans, I feel this proposition is a particularly useful tool for brokers working with landlords to appraise their client of the opportunities available to support their businesses further. Adding additional services for landlords will be an important role moving forwards.

“We are very pleased to have David and the Factored team on board as, in a busy market, one thing our brokers have asked for access to is choice of potential opportunities across the various lending types within our sector, and we are pleased to support their requests.”

David Rabee, Co-Founder of Factored, added:

“At Factored, we specialise in rent advances for landlords, delivering funds within 24 hours while protecting credit scores. Unlike traditional loans, factoring offers a swift and flexible solution tailored to landlords' needs. Partnering with FIBA allows brokers to increase commissions and attract new clients, driving mutual growth and success.”