Factored provides UK landlords with fast rent advances by purchasing future rental income rights, offering capital within 24 hours for property improvements or cashflow needs. This structure avoids traditional debt, appearing as a sale of assets rather than a loan on the balance sheet. The service features a high approval rate based on rental income assessment and uses only soft credit checks to protect the landlord's credit score.
Funding
Funding not disclosed
ECFounders
Product
Problem
Landlords often face challenges in securing funding for property improvements, energy efficiency upgrades, and other essential expenses due to stringent lending criteria and the complexities of traditional financing options. This can hinder their ability to maintain and enhance their properties, meet regulatory requirements, and improve tenant living standards.
Solution
Factored provides a financing platform that allows landlords to access upfront capital by selling a portion of their future rental income rights. This enables them to fund property retrofits, repairs, and other expenses without incurring additional debt or undergoing hard credit checks. By converting future rental income into immediate cash, landlords can improve tenant living conditions, increase property value, and comply with energy efficiency regulations. The platform offers a streamlined application process with a high approval rate and provides funds within 24 hours of approval.
Target Audience
The primary target audience includes landlords with properties rated D to G on the EPC scale, as well as those facing challenges with traditional financing due to age restrictions, unmortgageable properties, or other financial constraints.
Features
- Advance payment based on future rental income, without incurring debt.
- Funds disbursed within 24 hours of approval.
- No hard credit checks required.
- Streamlined application process with a 90% approval success rate.
- Dedicated account manager support.
- Flexible financing option that scales with rental income.
- No penalties for early repayment.