We are delighted to announce we originated £100 million of new lending in October, a record, attracting both new and existing borrowers to our growing product range.
49 new loans were originated in October, spanning our full suite of products including commercial bridge, buy-to-let, development exit and refurbishment. Highlights from the month include:
– £12.6m commercial bridge with permitted development rights for an office block in Canary Wharf, London
– £14.6m development exit bridge on a new build development of 16 premium apartments and 2 commercial units, with river views in southwest London
This record month follows a recent revamp of our commercial term product which now has a reduced minimum loan size of £350,000, aligned with increased demand outside of London and the South East. These changes also follow revamps of the bridge-to-let, development exit and refurbishment products which further enhance the business’ competitive and flexible lifecyle lending proposition. Read more about these changes.
In the quarter, we made 15 new hires, as we continue to strengthen our regional footprint, as well as our credit and case management experience for brokers. These changes are in direct response to demand from its increasingly diverse range of property professional borrowers.
