Castle Trust expands development finance offering
Castle Trust Capital has expanded its Development Finance offering, introducing a number of changes that reflect the lender’s appetite to grow its lending.
Castle Trust has doubled its maximum loan size and is now able to lend up to £20m on loans up to 65% GDV.
Maximum GDV has been increased from 70% to 75% for loans up to £15m and, for those developers who do not need this extra leverage, Castle Trust has introduced more competitive pricing at 65%.
In addition, Castle Trust is rolling out its Mezzanine Finance offering, which launched as a pilot earlier this year. Mezzanine loans are available up to £5m on schemes of up to £50m.
Nick Oakley, pictured, Director of Structured Finance at Castle Trust Capital, says:
“We are delighted with the way our portfolio has been developing since our launch last year, and this means that we are able to expand our offering on the back of an established book. We now have a full suite of senior and mezzanine finance options for experienced developers who want to maximise their returns through the efficient use of capital.
“At Castle Trust, we place great emphasis on the principle of ‘yes means yes’ and we recognise that developers need a finance partner that knows what it is doing, is strong, consistent and committed to the relationship.”