Link Lending secures £75m funding
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Link Lending has secured a major funding line which will make over £75m available for new funding.
The firms offers short-term and bridging loans through its Link Bridging arm and provides secured loans through it Link Loans division.
John Maclean, managing director of Link Lending, says the new funding will be targeted towards residential funding initially but says he hopes to announce further initiatives in the coming months.
He says: “At a time when other short-tem lenders may be struggling to recycle their limited volume of funds Link’s increased funding levels should provide brokers with a welcome opportunity to boost their business levels and satisfy more of their clients’ needs.
“This in turn should provide brokers with not only commission income from introducing the bridging loan but also the additional procuration fees from arranging the long-term finance that the client will need.”
Maclean adds: “We hope that our increased ability to lend is an early sign of the mortgage market returning to a healthier state overall.”
Source:
Loan Distributor
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