Century Capital

Century Capital set to launch bond on stock market

Century Capital is set to launch a bond on the stock market following Brexit.

Speaking to Bridging & Commercial, Paul Munford, CEO at Century Capital (pictured above), revealed that the lender hoped to launch the bond later this year.

Paul explained that it had a mix of different funds that did different things.

“We're just about to launch a bond on the stock market,” he said.

“That's been delayed because of Brexit.”

The bond will be used to fund the lender’s mainstream residential lending.

Paul added what impact he felt Brexit was having on the market: “It's very frustrating, I reckon our loan book would be three times the size [it is] had Brexit not happened.

“It's a fact: you'd have more demand, you'd have more funding, you'd probably be more comfortable lending at higher LTVs.

“At the moment, we're very careful on LTVs because the market's in a difficult state.

“You've got to take 10% off what you would normally lend on, whereas in a strong market you can go a bit further.

“If the market's rising, if you lend 60% today, it may only be 50% tomorrow.”

To date, Century has provided over £100m of funding.

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    Gerard Ward

    Exciting times for the UK market with all the extra lenders that are coming to market.

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