Lawrence Stephens client Lendhub, a specialist bridging and development lender, has secured a loan-on-loan facility from specialist bank OakNorth.
The new funding line will sit alongside clients’ proprietary funds, with the deal enabling Lendhub to extend its lending capacity by £75m.
Lendhub — whose management team has entirely funded the business from their own equity — will use the finance to provide loans of £100,000 to £5 million for the purchase, refinance and development of properties.
“We are extremely pleased to have secured this funding line and look forward to working with Lawrence Stephens and all our team to bring it to the market,” said Christopher Adamou, Managing Director at Lendhub (pictured above).
“This new funding line cements our commitment to the industry and forms an integral part of our growth plans for Lendhub.”
“We hope to provide confidence, stability and consistency to our brokers and borrowers by working in partnership with such a highly regarded organisation.”
Gregory Palos, Head of Real Estate Finance at Lawrence Stephens added, “This transaction was completed in a very short time and demonstrates Lawrence Stephens’ ability to add value and enable clients to meet their business plans in the most challenging of circumstances. We look forward to working closely with Lendhub going forward.”