Chordis Capital

Rob Lankey and Russell Martin launch new lender

New specialist lender Chordis Capital has officially entered the market, led by its two founders, Rob Lankey (pictured above, right) and Russell Martin (left).

The finance provider will offer bridging and development finance to businesses, property investors and developers emerging in a post-pandemic world, where access to finance may be more challenging.

Currently, the lender offers three types of unregulated bridging loans: standard, light and heavy refurbishment.

It provides loans between £50,000 and £5m, with rates starting from 0.85% and a maximum LTV of 75% on terms between six and 24 months.

The bridging offering is available for:

  • residential properties
  • multi-unit residential properties in rental use or HMOs
  • mixed-use properties
  • commercial property where the borrower has obtained planning to convert the use of the existing building to a permitted use as set forth above
  • for property purchases or to refinance existing properties

The lender will soon provide loans for commercial and BTL mortgages as well as development finance for properties, such as:

  • single-let residential units, including detached and semi-detached houses, terrace houses, bungalows, maisonettes, flats, blocks of flats, flats above commercial, flats above food outlets and holiday let
  • HMOs and MUFBs
  • speculative residential developments, including new build, conversion and refurbishment
  • mixed residential and commercial schemes

Chordis Capital is part of the ARMCo Group, which includes Innovation 4 business, Finance 4 Business, Atlas Land & Planning, Walker Doble, Cape Insurance, Liquidity Club and Midshore Partners.

Previously, Rob was managing director of commercial mortgages, specialist BTL mortgages and property development finance at Aldermore, before becoming CEO of the NACFB, and then helped build Amicus Finance prior to joining Shawbrook in a senior role in 2019.

David Totney is also a non-executive director and chair at Chordis Capital.

David has held senior positions at Santander and is a former executive board director at Lloyds Commercial Finance.

Rob said: “Russell and I have kicked the concept of a broker-lender relationship around for quite some time. 

“With no legacy loan books, a strong funding line and the chance to build rapidly as the country emerges from lockdowns, the timing is ideal. 

“We expect there will be a strong uplift in businesses and investors looking for finance, but who don’t meet the criteria of other lenders, for a variety of reasons.

“Being new, we are not impacted by some of the huge challenges other lenders have faced as a result of the impacts of the Covid-19 pandemic. 

“It’s great to be back in the market leading my own lender firm, and Russell and I are confident we’re starting a journey to build the biggest and best specialist non-bank lender in the UK.”

Russell, who is also chairman of ARMCo, stated: “I’ve wanted to launch a lender in my ARMCo group of companies for quite some time, but there’s only one person in the market I would take this step with, and that’s Rob. 

“His track record and reputation speaks for itself, and to bring a new lender to market in under six months during the toughest period of restrictions we’ve all endured, is an achievement we’re very proud of.”

Chordis Capital has opened its HQ in Peterborough and is looking to recruit members to join its operations team. 

Leave a comment