The credit line aims to create a significant capacity for Offa to expand and diversify its bridging propositions in the UK property market.

Offa plans to use the funding to launch new bridge finance products for heavy refurbishments and development, in addition to existing traditional bridge-financing products.

GII has over $4.5bn of assets under its management and took a majority stake in Offa in mid 2022.

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Available later this month, the key features for Offa’s new bridging products include finance of between £200,000 and £25m (75% FTV and 85% FTC) for a term of up to 18 months for heavy refurbishments and up to two years for development finance for properties in England and Wales.

Bilal Ahmed, founding partner and managing director of the bridging division at Offa (pictured above), said: “We’ve seen a 10-fold increase in business these past 12 months — with bigger capacity, we can expand our asset book and product set to support many more brokers and clients with their finance requirements.”