Funding 365 secures £300m funding line following Balbec Capital acquisition
By Tara SammonsThe £300m boost positions the lender to scale its bridging, development and BTL product offering
Section: Funding Line
Funding 365 has secured an additional £300m funding line with a global investment bank.
The new facility will increase Funding 365’s lending capabilities across its bridging, refurbishment, development and specialist BTL products and will sit alongside its existing institutional lines.
This follows the announcement of the lender’s acquisition by alternative investment manager, Balbec Capital.
Mike Strange, director at Funding 365, commented (pictured above): “The execution of this new funding agreement, against a difficult market backdrop, is tremendously exciting for the future of Funding 365.
“Combined with the opportunities provided by our recent acquisition by Balbec Capital, it puts us in a position to make our product offering market-leading across the specialist mortgage spectrum.”
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