Downing LLP announces half a billion in commitments target reached

Downing LLP’s specialist lending team is primarily comprised of residential development finance to experienced developers. It also provides wholesale finance solutions to other lenders.

The company said that despite challenging market and economic decisions, £200m of the final £500m total was achieved in less than a year.

The team releases investor funds as secured loans to residential property developers nationwide, but also includes some non-speculative commercial developments, and specialist sub-sectors such as student accommodation.

Lending ranges from £1m to £25m issued to well-established developers and Downing LLP will lend up to 90 per cent loan to cost (LTC) and 70 per cent loan to gross-development value (LTGDV).

Parik Chandra, partner and head of specialist lending at Downing LLP, said: “We continue to see strong growth in our property lending team, but this has been achieved with a tight focus on risk management and high-quality origination.

“Despite a challenging macro environment, many attractive lending opportunities remain in the property development market, and we will continue to support SME developers. We have also seen considerable interest in our wholesale lending proposition, particularly from bridging lenders.”