Specialist development finance lender Magnet Capital has widened its lending criteria, including largest facility amount and geographical range, as part of its “growth strategy” in 2023.
The lender has increased its largest facility amount to £2.5m, up from £2m previously.
It has also broadened its geographical range to include regions in the North of England and extended its reach further into Cornwall.
The company’s lending geography covers all of Southern England and part of South Wales.
Magnet Capital was founded in 2018 and offers small residential construction projects including new builds, conversions and refurbishments.
Ashley Ilsen, Magnet Capital CEO, said: “We’re almost at our five year mark and we’ve experienced year-on-year growth. We want to continue the expansion of the business and the natural way to do this is by widening our reach in terms of loan size and geography.
“Building a loan book based entirely on development finance is no mean feat but our experience and know-how in this market continues to put us in an exceptionally strong position and sets us apart in what is already a very busy space”.
Sam Howard, co-chief executive and co-founder of Magnet Capital said: “We’ve listened to our clients and introducer partners and based on their feedback have extended our award-winning service and products to a wider geographical area and increased loan quantum.
“We are looking forward to travelling the breadth of the country to visit our new clients across the UK.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.