Bridging lender secures £30m funding line
Continuing with their growths plans CAS FZ LLP the Dubai based parent company of Jumbo Bridging Finance and London Bridging Finance announced a further successful fund raising of £30m purely towards Non Status Bridging Loans.
Commenting from the companies Dubai HQ, CEO Christopher Dailly said:
“The vanilla easy to do bridging loan market is saturated with new lenders all looking for market leading returns but in effect they are actually doing full high street bank due diligence and trying to charge 1 – 1.5% per month and in some cases returns below 1%.
We have found clearly over the last 18 months that the big growth and demand area is the Non Status Asset only lending side of the bridging market. Where it is only the asset that is important and not the borrower. This allows people who wouldn’t easily be able to access the bridging loan market to get the funding for their project and this in turn allows us to obtain a better return for our UHNW investors.
We can do deals on any asset as diverse as quarries, marinas, industrial units, offices, residential investments, land with and without planning, HMO’s virtually every deal is possible and this is totally irrespective of the borrowers credit profile. And in each of these deals we can do 70% LTV on the Open Market Value having no regard to the purchase price. On top of that we operate over the whole of the U.K.
This funding line we hope will be a game changer and should it be utilized quickly we have a further arrangement of £100m ready to go.
Our move to the Middle East has allowed the company to tap into the vast sums of investment capital located out here and this access will continue to keep Jumbo Bridging and London Bridging Finance at the leading edge of the high value non status bridging loan market place”