Exclusive: Private bank to fund bridging lender

B&C can exclusively reveal that a bridging lender has secured a private funding line through a significant investment from a banking institution.

London-based lender Capital Bridging Finance Limited (CBFL) was approached by another banking institution said to be impressed by the lender’s recent progress.

It is believed that the private bank approached CBFL alongside a number of other institutions and was chosen as it offered the bridging firm the most room to grow its specialist offering.

CBFL will hope to benefit from greater flexibility in finding funding solutions for its specialist broker clients with the improved backing.

The funding line will be added to what is already strong financial backing, which was most recently added to when high street bank HSBC opened up a £50 million lending facility for the lender.

The bank’s representatives were said to have been keen to be involved in the lucrative short term market, and selected CBFL as its preferred partner to gain access to it.

Keith Aldridge, Capital’s Managing Director, told us: “Once again we are delighted that we have been approached by a well-established private bank to offer funds to our growing number of specialist brokers. In the last six months we have seen our funding lines increase fourfold and this additional line will enable us to further extend our distribution and allow us to be more flexible when supporting our broker partners.”

Speaking about what the new funding would mean for CBFL, he added: “At a recent AOBP forum, the broker’s main demand of lenders was for a more flexible, individual, approach to their funding needs and this facility will allow us to build on our growing reputation as a lender who finds solutions to satisfy those needs.

“This particular funding line will also enable us to extend our funding periods for suitable cases. It is great news for brokers looking for that little extra flexibility from their lender.’’