Mark Stephen

Reditum Capital launches new bridging lending division



822_2022-06-15-02-36-46pm.gif
Specialist lender Reditum Lending — a subsidiary of Reditum Capital — has entered the market to help those looking for short-term finance to "supercharge" commercial and residential property projects.

Reditum Lendiing will provide bridging loans from £500,000 to property professionals and developers via its 80-strong broker network, that includes VIBE Finance and DRM Capital.

Rates will start from 0.67% with a maximum LTV of 80% and terms between six and 24 months.

Reditum Lending, which is backed by an institutional facility, aims to deploy a minimum of £80m in its first 12 months of trading.

The lending division will be led by Mark Stephen (pictured above), founder at Reditum Capital and managing director at Reditum Lending.

The new bridging division will also be supported by Reditum Capital’s 18-member team.

The new business is an arm of Reditum Capital, a boutique, privately-funded financier that was established in 2013 to fund complex property and land transactions across the UK and Europe. 

The firm has a track record in funding commercial, residential and land transactions, having closed over 100 deals worth in excess of £520m.

Mark said: “This is a strategic move for the wider group as we look to increase our facilities to property professionals and landlords across the whole of the UK. 

“With Reditum Lending, we’re aiming to take bridging back to basics and will be utilising our existing relationships, as well as partnering with new financial intermediaries, to find quick finance solutions for their clients.”

He added that now was an important time for UK real estate, as the lender had seen increased activity from property professionals to restructure or add to their portfolios, which was driving demand for short-term financing. 

“We are property people at heart, not just banking — therefore, we understand the challenges of real estate and can take a view of things that other tick-box lenders may not. 

“We have invested significantly in our tech platforms to enhance the overall experience, and we’ll provide access to senior decision makers to get deals over the line.”

Leave a comment