Confident short-term property lending market and national expansion seen as key factors
Amicus Property Finance, the specialist short term property lender, today announces a record month of lending in July at £72 million. The firm has cited a confident and buoyant short-term property lending market as well as having expanded its offering further across the country with the opening of the Manchester office last year as key factors.
July's record figure covers a regional spread of loans. Included is the refinancing of a commercial property building to enable the borrowers to obtain planning permission for a 240-flat scheme in Surrey, a large commercial site with outline planning in Suffolk, and the purchase of a development site in the Midlands.
The firm has seen a strong first half of 2017 having provided more than £500 million of short term property loans last year, as it further expands its customer base among brokers, professional landlords and developers seeking finance for residential and commercial real estate assets.
Keith Aldridge, Managing Director at Amicus Property Finance, said:
"We are delighted to have achieved a record month of lending. We've seen tremendous growth over the last few years as our localised relationship-based approach resonates well with property professionals looking for specialist lending solutions in a buoyant short-term property market.
"We build our most successful loans on the bedrock of effective collaboration and strong relationships. Furthermore through our new Manchester office we have expanded nationally, cementing a strong on-the-ground base to fund local projects and service clients who are often overlooked by more mainstream lenders."
Amicus has seen consistent funding from the Omni Secured Lending (OSL) Funds. Vintages I, II and III have provided more than £500m of institutional third-party funding to the business. During January and February 2017 alone Vintage III raised more than £200m of new institutional capital, which is being actively deployed to fund new lending activity.
Subject to authorisation, Amicus anticipates receiving its banking licence this year which will enable it to fulfil its long-term growth objectives by accessing an alternative and efficient source of funding.