CapitalRise secures £30 million funding line for bridging loans

Jul 9, 2024 | blog

CapitalRise, a number one prime property finance firm, has efficiently secured a brand new £30 million funding line with a outstanding UK financial institution.

This newest funding spherical goals to satisfy the surging demand for bridging finance and reinforces the corporate’s robust relationship with its banking associate, which has seen a number of profitable offers closed collectively.

The newly acquired capital will probably be allotted to bridging loans in Prime Central London (PCL) and high-end residential belongings in Outer London and the Home Counties. This transfer is a part of CapitalRise’s broader technique to increase its bridging mortgage portfolio, addressing the elevated market demand.

CapitalRise has skilled vital development in its bridging mortgage origination, with short-term finance rising from 15% of its mortgage ebook in 2022 to 47% in 2023. This pattern underscores the growing urge for food for versatile, short-term financing options within the property market.

This funding line follows CapitalRise’s spectacular development trajectory, together with a considerable £250 million funding line secured on the finish of 2023 and a 50% enhance to an present line in March 2024. These enhancements have significantly boosted the corporate’s lending capability, incorporating a revolver mechanism to effectively redeploy redeemed funds and maximise lending potential.

As a part of its growth efforts, CapitalRise just lately appointed Imogen Williams as Business Development Director. With 11 years of trade expertise and a specialism in short-term finance, Imogen is about to drive additional development within the agency’s bridging mortgage ebook.

Uma Rajah, CEO and Co-Founder of CapitalRise, commented: “Securing this additional £30 million funding line for bridging loans further supports the diversification of our capital sources, ensuring a robust funding model. We are thrilled to secure this new funding line as part of our continued commitment to serving our clients with bespoke financial solutions.”

Pip Lashko-Sayers, Associate Director (Capital Markets) at CapitalRise, added: “The new funding line not only helps us to meet the growing demand for bridging finance but also builds on our strong partnership with this renowned UK bank, with whom we have had a relationship for the past seven years. Having completed several transactions together during this time, it is great to now formalise and expand the relationship with this latest funding line. We look forward to continuing to offer flexible and competitive finance solutions to prime property borrowers together.”

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