Downing LLP agrees debt facility to support bridging lender Whitehall Capital

The facility will enhance the company’s funding security and flexibility and allow it to provide stable and predictable returns through any stage of economic cycle.

The lender’s book focuses on senior debt backed by high quality and liquid residential property as collateral.

The firm lends on individual properties and portfolios with a value of up to £20m, with a loan to value of up to 70 per cent and for a period of up to 12 months

Ian Allder, head of block discounting at Downing LLP, said: “Downing is delighted to partner with Whitehall Capital. This relationship shows we are committed to supporting key players in the bridge financing sector.

“Whitehall is an impressive business and its experienced team writes loans which offer good risk-adjusted returns. We very much look forward to working together.”

Anthony Bodenstein, managing partner at Whitehall Capital, added: “This new funding line increases our flexibility, which in turn enhances our competitive edge and allows us to capture a greater share of the UK bridging market.

“We are pleased to be working with Downing, an extremely well-regarded investment manager and wholesale funder.”

The bridging market has been growing, rising by nearly a third since the start of the pandemic.

There have been new lenders including StreamBank and certain lenders securing new funding including Mint Property Finance and Spring Finance.

Bridging market participants said that they expected the lending market to diversify as demand continues to increase.