It reported an operating loss of £2.3m, an improvement on £9.8m the year before, and its revenue rose from £12.3m to £16.8m over the year.
Its UK business completed £48.3m in new facilities over the year, compared to £37m in 2023. Meanwhile, its assets under management rose by a third to £84m.
Sancus Lending UK expanded its leadership and opened an office in Manchester last year. The group said alongside its existing London-based capabilities and operations, this improved its ability to grow its UK loan book, including bridge finance, and deliver better operating efficiency.
Sancus Lending’s Irish arm posted a 45% growth in its loan book to £47.8m, while the business wrote £39.9m in new facilities, down from £46.1m previously.
The group said its Irish business, Sancus Lending Ireland, performed well and reported continued profitability from an increased loan book. It also said it was “well-positioned to take advantage of opportunities” in the Irish market and believed further growth was “achievable”.
Its joint venture with Hawk Lending in the Channel Islands, which launched in January last year, wrote £20.1m of facilities in what the group described as “very challenging market conditions”.
It made some roles redundant to adjust its costs and said these actions, along with an improved market outlook, left Hawk Lending “well-positioned”.
The joint venture has also deepened its network of private wealth relationships, enhancing its co-funder and wholesale finance reach. Sancus Lending said it would benefit from this further this year.
By the end of the year, it had assets under management of £105.8m, including £83.1m relating to the legacy Sancus Jersey and Hawk businesses. This was a slight fall on £106.2m the year before.
Its overall loan book at the end of the year came to £237.6m, an 18% rise on the year before. Meanwhile, the group’s total assets were £122.1m as of 31 December, up from £106.4m at the end of 2023.
The group said this was due to a growth in loans financed through Sancus Loans, which had loans of £91.4m at the end of 2024, compared to £82.6m previously.
Sustaining profitability in 2025
For the first two months of the year, the group generated revenue of £3m, a 20% rise on the same period in 2024.
New facilities written came to £24.3m, and Sancus Lending said while this was slightly lower than the same period last year, it had a stronger pipeline this year.
Assets under management stood at £247.9m as of 28 February, a 4% increase on its value at the end of last year.
In January, the group entered into a commitment with asset manager Somerston to provide Sancus Lending with up to £10m of junior funding to support its growth. The following month, it issued £1.9m of this to increase the capital deployed in Sancus Loans.
Sancus Lending said these factors gave its management confidence that the business was able to deliver profitability this year.
Rory Mepham (pictured), chief executive of Sancus Lending Group, said: “Our priority focus continues to be achieving sustainable growth and profitability. Our residential property lending businesses are now operating efficiently in the UK and Ireland, as is our joint venture for property lending in the Channel Islands.
“We expect to be profitable in each of these markets in the coming year and look forward to ongoing investment in their growth.”
He added: “While we have much work to do in order to deliver sustained operating profitability, these results and the benefits of actions taken in the year to improve the positioning of our core business give me confidence that we now have the platform from which to deliver profitable growth and accelerate our strategic progress.”
