Bridging lender secures £100m funding line
David Melville, Regional Development Manager for London Bridging Finance and Jumbo Bridging announced today that the business has secured a £100m revolving credit facility from a Dubai based private investor for high risk bridging loans in the UK.
Since Jumbo Bridging and London Bridging’s new parent company CAS FZ LLP moved the HQ to Dubai following last years acquisition the main focus has been to deliver a funding solution that differs from the flood of new entrants into the market.
This new high risk non status facility is believed to be the first bridging loan facility in the UK to actively target high risk loans but to offer the funding at normal bridging loan rates.
Commenting from Dubai in his role as group CEO industry veteran Chris Dailly noted:
“The industry has seen a huge amount of change over the last 5 years and as such we have been at the forefront of providing an offering that is something unique amongst an ever increasingly crowded market place especially with the still as yet unregulated crowd funding boom. We feel that this new strategy sets our stall out as something fresh amongst our peers and will, we are sure, continue to push London Bridging and Jumbo Bridging Finance to the forefront of the bridging finance marketplace.
We have listened to our broker and introducer partners and responded with this unique and exciting product”