CapitalRise has secured a £30m funding line with a UK financial institution to develop its bridging mortgage ebook.
The prime property lending platform stated that the capital can be used to finance bridging loans for high-end residential property in Prime Central London, Outer London and the House Counties.
CapitalRise stated that it has seen rising demand for its bridging providing of late. In 2022, short-term finance represented 15 per cent of its mortgage ebook, however this elevated to 47 per cent in 2023.
Learn extra: Prime place: Unique interview with CapitalRise’s Uma Rajah
The agency additionally stated that the deal additional solidifies its relationship with the unnamed banking companion, with whom it has beforehand closed a number of offers.
“Securing this extra £30m funding line for bridging loans additional helps the diversification of our capital sources, making certain a strong funding mannequin,” Uma Rajah (pictured), chief government and co-founder of CapitalRise. “We’re thrilled to safe this new funding line as a part of our continued dedication to serving our shoppers with bespoke monetary options.”
The newest funding line announcement comes after CapitalRise secured a £250m funding line in late 2023 and elevated a earlier funding line by 50 per cent in March 2024.
To help its bridging finance growth, CapitalRise additionally lately employed Imogen Williams as enterprise improvement director. She has 11 years of business expertise with a specialism in short-term finance and can deal with supporting additional development within the agency’s bridging mortgage ebook.
“The brand new funding line not solely helps us to satisfy the rising demand for bridging finance but in addition builds on our sturdy partnership with this famend UK financial institution, with whom now we have had a relationship with for the previous seven years,” stated Pip Lashko-Sayers, affiliate director (capital markets) at CapitalRise.
“Having accomplished a number of transactions collectively throughout this time, it’s nice to now formalise and develop the connection with this newest funding line. We sit up for persevering with to supply versatile and aggressive finance options to prime property debtors collectively.”
