The new funding will focus on residential refurbishment, development finance and bridging loans.
Assetz Capital has on-boarded a new institutional investor to provide a fresh line of funding dedicated to the residential property bridging, refurbishment and conversion markets, according to statement by the firm.
The investor is part of a $100bn global multi-asset manager, although Assetz declined to name the firm specifically.
“The new partnership provides an additional funding line for Assetz Capital to help it develop a wider range of funding for business borrowers and their intermediaries. This will further support borrowers seeking funding for residential refurbishment and bridging loans – of up to £5m per project – and also allows for slightly increased LTV levels in the right cases – up to 75 per cent,” Assetz said.
“It is also one that we know will further widen the scale and scope of lending to the businesses that we support. In particular, it is part of our planned expansion into the residential refurbishment market, an area which we expect will grow strongly in the years to come as an alternative to buy-to-let investing,” he added,