Keith Aldridge

Amicus lends £72m in July

Amicus Property Finance has announced a record month of lending in July totalling £72m.

The specialist short-term property lender has cited a “confident” and “buoyant” property lending market in addition to the opening of its new Manchester office last year as key factors.

Figures from the record-breaking month include a refinancing of a commercial property building which enabled borrowers to obtain planning permission for a 240-flat scheme in Surrey, a large commercial site with outline planning in Suffolk and the purchase of a development site in the Midlands.

Amicus reported a strong first half of 2017 having provided over £500m of short-term property loans last year.

“We are delighted to have achieved a record month of lending,” said Keith Aldridge, managing director at Amicus Property Finance (pictured above).

“We’ve seen tremendous growth over the last few years as our localised relationship-based approach resonates well with property professionals looking for specialist lending solutions in a buoyant short-term property market.

“We build our most successful loans on the bedrock of effective collaboration and strong relationships.

“Furthermore, through our new Manchester office we have expanded nationally, cementing a strong on-the-ground base to fund local projects and service clients who are often overlooked by more mainstream lenders.”

Amicus stated it had seen consistent funding from the Omni Secured Lending (OSL) Funds. Vintages I, II and III have provided more than £500m of institutional third-party funding to the business, and during January and February 2017 alone, Vintage III raised more than £200m of new institutional capital, which is being actively deployed to fund new lending activity. 

Subject to authorisation, Amicus anticipates receiving its banking licence this year, which will enable it to fulfil its long-term growth objectives by accessing an alternative and efficient source of funding.

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