Paul Sonabend

New end-to-end service set to 'level the playing field' between small and large developers



The recent launch of the strategic partnership between online property sales platform yourkeys and Relendex is set to “level the playing field” between small and large developers, according to Paul Sonabend, executive chairman at Relendex (pictured above).


By utilising yourkeys’ marketing and sales suite, the P2P lender will provide finance to developers across the UK.

Paul stated that the partnership would deliver an “end-to-end service for developers”, which could also “reduce their sales cycle”.

“…The Relendex part of the service will be to essentially finance the new-build developers in the smaller scale, so up to, say, 50 units or that sort of size, where essentially the yourkeys' team… will be introducing sales to Relendex through our partnership.”

He also stated that, as a result, it would be able to reduce arrangement fees.

“…These people we are financing will be able to reduce their sales cycle because for the first time they will be able … to pre-market even before [the property is built] as they'll have everything necessary”.

He added that Relendex was “waiving” exit fees for all yourkeys’ customers, which he described as “another substantial saving” for smaller developers.

“The substantial difference that we see is that it will level the playing field between … the sub-£100m turnover [SME developers] and the very big boys.”

Paul also claimed that instead of just holding a building, giving it to a local estate agent, and only having access to the local estate agent market, developers will now be able to pre-sale on a system that could do the transaction in five days.

“This is going to make an enormous financial impact for developers.”



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