Kenton Finance, a major provider of bridging loans, has announced that it will be opening new offices for business within the City of London.
The expansion will see the suppliers of bridging finance establish offices in Mayfair and Canary Wharf, with both offices serving as a joint London base for the company as it looks to grow its presence in the capital’s property market.
Expanding into London is the latest stage of Kenton Finance’s growth since its foundation in 2015 and forms a key part of the company’s aim to establish a loan book of £500m by 2030.
The company, which has been based in Cheshire to date, has lent more than £375m through hundreds of bridging and development loans to property investors and developers across the UK.
Kenton Finance’s loans, which are available for between £25,000 and £5m, are used for a range of purposes - including for the purchase or refinance of property, the quick purchase of auction properties, developments that require staged funding, refurbishments, and re-bridging at a more competitive rate.
Kenton Hackney, founder and CEO of Kenton Finance, said: “The expansion of Kenton Finance across two offices in London is just the start of our ambitions for the next decade.”
Bridging finance, known for its speed, offers much faster time to completion than high-street lenders, which is mainly why this form of short-term finance is growing more popular with property investors, including landlords looking to add to their portfolios.
The speed at which bridging finance can be implemented is the main reason for its use.
Hackney added: “To be able to support developers, buyers and investors across the UK market by injecting finance into the property market during such uncertain times is something that we are extremely proud of.”
Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.