The company aims to increase its funding levels by up to £10m to meet proven demand in this specialist sector.
This new injection of capital will support its existing bridging range which includes the Refurbishment and Conversion Bridging Loan, All England 2nd Charge Bridging Product and the Paxton Large Bridging Loan Product.
David Kinane, Partner at Paxton Private Finance, comments:
“While we have seen an increase in lending by high street providers, they will never be able to offer as fast and as flexible funding as the specialist bridging loan sector. Indeed, there is currently significantly demand from people who are looking to renovate properties or complete outstanding projects and are looking for the funding to do so.”
Nick McLean, Partner at Paxton Private Finance, explains:
“While we have provided over £6m worth of bridging lending via our suite of products over the last 18 months, we are now looking to raise significantly more capital via our Paxton Secured Income Fund to be used to satisfy increasing borrower demand."
