The Sancus Group has announced the launch of its new electronic platform for bridging and property development lending in the UK.
The Group started business in 2013, providing asset backed lending in Jersey before expanding into Guernsey, Gibraltar, the Isle of Man (through an affiliate company) and Ireland.
The Group announced in February that it had surpassed £1bn of lending across its asset backed and SME finance businesses and sees its expansion into the UK as key to achieving its growth ambitions going forward. The UK business is headquartered in London and will provide funding opportunities for institutional and high net worth investors (minimum participation £100,000) through its FCA authorised subsidiary, Sancus Funding Limited.
It will provide loans from £500,000 upwards and recognises that a borrower’s key requirements are speed and certainty when dealing with lenders. Further expansion of their presence in the UK will benefit both borrowers seeking an efficient and straightforward service and funders who are seeking a yield/income higher than current cash rates or other alternatives.
Dan Walker, managing director, Sancus Funding (UK) says, “There is significant demand in the bridging and development finance market in the UK where the fundamentals for alternative finance remain strong and we are pleased to have recently completed the first loan on our new electronic trading platform.”
Andrew Whelan (CEO, The Sancus Group) added, “The Group passed the £1bn funding milestone earlier this year, and with significant growth over the last few years in asset backed lending, this is the right time to direct more resources towards expansion in the UK market. We have made significant investment in technology to support this growth, allowing us to concentrate our efforts into robust credit processes, which remain a key strength of the business.”