An unnamed ‘global institutional investment manager’ has committed to acquiring up to £100m of bridging loan assets from MT Finance.
MT Finance said the deal followed a similar agreement entered into with the same manager – which has more than $1.6 trillion of assets under management – back in 2017.
It follows the lender’s announcement that it had clinched £50m in funding from Insight Asset Management last December.
Joshua Elash, co-founder of the specialist lender, said that this backing represented a “significant endorsement”, noting the firm had shown discipline and applied a sensible approach over the last two years.
He continued: “This additional financial support enables us to drive forward ambitious growth plans to ensure MT Finance continues its development towards becoming the market-leading bridging finance provider.”
You may also be interested in the Mortgage Solutions newsletter. All the latest news, analysis and insight from the mainstream residential lending market. Including industry news, adviser business strategy tips and market commentary.