A new unregulated bridging lender has been launched by the former chief executive of Omni Capital, now Fortwell Capital.
Colin Sanders (pictured) has launched ‘Tuscan Capital’ to provide ‘conventional and outside the box’ products for short-term lending.
Tuscan Capital said it welcomes enquiries from brokers, advisers and experienced property professionals.
Joining Sanders in the senior team for the lender’s initial launch phase are Matthew Rogers as head of sales and Bob Sturges as head of PR and marketing.
The lender is supported by both private and institutional investment from Quilam Capital and says it has ‘secured robust funding lines’ to support its growth forecasts.
The lender will offer funding from £250,000 to £3m with monthly rates from 0.75 per cent and terms from three to 18 months.
It will deal in non-regulated business only.
Sanders says: “The first question I’m asked by industry insiders is can the market take another lender? I believe it can so long as that lender addresses a need and provides a solution not necessarily available elsewhere.
“At Tuscan Capital we’re not looking to radically re-shape bridging or claim a market leading position overnight. We will not be driven to write volume as our main priority. Instead, we’ll focus resolutely on our key principle of combining traditional values with new, innovative thinking.
“In particular, we will bring back speed and decisiveness to the decision-making process”.
Omni Capital rebranded as Fortwell Capital in February 2016.