Investment manager Downing LLP has completed £11.1m in property development loans for residential schemes in a month.
The lender said this was a sign of its “building on strong growth” and follows it exceeding the £300m lending milestone in July.
Some of the deals completed in the last month include residential developments in Wakefield, West Yorkshire; East Studdal in Kent; Hitchin in Hertfordshire; and Gerrards Cross in Buckinghamshire with new and existing clients.
These projects will each deliver between two and 12 family homes for owner-occupiers.
The firm typically lends between £1m and £25m to experienced developers up to 90 per cent loan to cost and 70 per cent loan to gross development value.
It lends against residential projects, non-speculative commercial developments and specialist sub-sectors such as student accommodation.
Parik Chandra, partner and head of specialist lending at Downing LLP, said: “The latest deals highlight our ability to continue growing the portfolio in very tough macro conditions and a competitive market. We remain committed to supporting SME developers in the face of challenging conditions.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
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