The facility will be used to grow the business and expand its reach to new clients, according to Greenfield Mortgages chairman Steve Smith.
The Birmingham-based lender was founded in 2009 and offers regulated and unregulated bridging loans across England and Wales for residential property, commercial and semi-commercial properties, homes in multiple occupation (HMO) and homes needing refurbishment.
Loan terms can be up to 12 months and rates start from 0.49 per cent per month. The minimum loan size offered is £26,000 and the maximum is £5m.
According to its website, from enquiry to completion the team can “turn things around in seven days”. It can give rejections in a timely manner and explain the reasoning behind them.
Ian Allder, investment director at Downing, said: “We’re delighted to be working with Greenfield Mortgages. This new partnership underscores our continued commitment to the wholesale finance market and the property sector.”
David Grant, operations director and co-founder at Greenfield Mortgages, added: “It has been a great experience working with the team from Downing and we’re excited to be even better equipped now to embark on the next stage of our growth journey.”