Paul Munford, CEO at Century Capital

Century Capital secures new funding lines and launches fresh products



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Century Capital has the capacity to lend a further £250m in the short-term finance market over the next two years, after recently securing new funding lines.

The bridging lender has raised up to £100m of capital via a bond issuance from a multi-billion-dollar US credit fund.

In addition, it has obtained a new facility from a UK challenger bank.

In conjunction with its new institutional funding, Century Capital has added three new products to its short-term finance suite.

The first product offers loans between £1m and £10m for prime single assets at up to 70% LTV, priced at 0.75% per month.

It is available for purchases, refinance, equity release, business purposes and light refurbishment.

The second option, designed for development exits, offers facilities up to £2m from 0.85% per month, with a maximum LTV of 75%.

The third product provides equitable charge loans up to £3m for HNW borrowers.

Rates start from 1.1% per month at up to 65% LTV, with no maximum property value.

All three products are available on terms between three and 24 months, with options to extend.

Paul Munford, CEO at Century Capital (pictured above), said: “We have seen a significant increase in demand for short-term lending on high-value residential properties, combined with a market which is increasingly cautious of these sorts of assets.

“We firmly believe in the future of London real estate, particular at the prime end of the market.

“The appetite of private banks that have traditionally served this market is increasingly stifled, while the demand for liquidity among HNW individuals and entrepreneurs who tend to own these types of assets has never been higher, often in extremely short timeframes.

“Likewise, equitable charges are one of the best ways to offer quick liquidity to HNW individuals with short-term cashflow needs.

“We are being led by our client base and our belief in the London market here, rather than looking to change our fundamental offering.”

 

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