30th August 2022

2 minutes reading time

Blackfinch Property expands its loan criteria and remains committed to rates decoupled from Bank of England base rate

Rapid growth sees Blackfinch Property increase lending to £1m - £25m

Blackfinch Group is expanding rapidly, including new hires in our property team. We’re thrilled to announce that as a result of our continued growth, Blackfinch Property’s maximum loan size has increased to £25m. In addition, the team remain committed to ensuring the interest rates we offer are not linked to the Bank of England base rate, which has recently seen its fifth increase this year. Our interest rates `remain fixed to the rate offered when the loan is agreed, giving developers certainty over finance costs at a time when build costs are very hard to predict and the base rate has reached 1.75% and could well go higher.

David Higson, Head of Property, “The Blackfinch Property team now stands at 20 across investment professionals, accountants and uniquely, an in- house legal team, all working on deals. This brings a hub of investment expertise and helps us offer a bespoke approach to each loan. The growth and experience of our team goes hand in hand with our new maximum loan size and we’re excited to be able to work with more developers and brokers on bigger projects.”

Richard Cook, CEO "Like any other company, we have not been immune from the challenges caused by the pandemic over the past two years. But we have seen opportunities too, and it’s a testament to our dedicated teams that we have grown our assets under management, enhanced our service offering and reinforced our standing in the investment space.”

"We’re now ready to further strengthen our position in the property lending market by increasing our maximum loan size to up to £25m.”

The Property team has completed new deals this year, ranging from retail, healthcare, student accommodation, industrial and office. And we’re hoping that our new loan size opportunities will expand our lending capabilities and allow us to work with new developers, on projects in different locations and in different sectors.

Higson added: We know that inflationary pressures and the recent news from The Bank of England that the base rate has increased from 1.25% to 1.75% could provide challenges in the market/to developers. Our interest rates are not linked to the base rate and we continue to keep our rates down in the near term.”

We work with like-minded, forward-thinking developers and brokers to help them achieve their aims. We’re looking to lend in new and growing sectors, and always go above and beyond to deliver.

To get in touch with our team about of your upcoming projects please email us on [email protected]