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Oblix completes £15m of lending in March

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  • 11/04/2019
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Oblix Capital completed £15m of lending in March, concluding the month with a £5.5m development loan.

 

The deal was to begin the construction of 13 apartments on the Dorset coast and with a 24-month loan funded at 70 per cent loan to gross development value (LTGDV).

The borrower had already acquired the land and gained planning approval.

Oblix Capital sales director Andy Reid noted that the development finance marketplace was becoming “increasingly competitive”.

“This recent performance is testament to the model we have built, leaving us perfectly placed for expansion and loan book growth for the rest of 2019 and into 2020.”

 

Senior appointment

The lender has also announced the appointment of a new finance director.

Steve Rogers (pictured) is a qualified chartered management accountant having held senior treasury and finance positions at Kensington Mortgages, RBS and Barclays.

He has 20 years’ experience specialising in mortgage financing, residential mortgage-backed securities and asset backed securities.

Rogers will be tasked with optimising the company’s financial performance, while ensuring a strong financial control culture is embedded across the group.

Managing director Anuj Nehra said: “Steve is both well-known and respected within the industry and he will certainly be a welcomed addition to our leadership team.

“The wealth of expertise Steve brings in mortgage financing and asset backed securities makes him the ideal candidate to help bolster our growth strategy over the coming years.

“He will no doubt make a positive impact immediately and we’re delighted to have a candidate of his calibre on-board.”

Rogers added that he was excited to be joining the lender and that he was looking forward to working with the team and building the business.

 

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