OneSavings Bank provides £50m funding for bridging lender

Houses, house, property, monopolyShort-term lender Oblix Capital has raised a new £50m funding line from OneSavings Bank.

This specialist lender says this additional capital will enable it to provide increased capacity for bridging and development finance, and enhance its product range.

Oblix Capital was founded in 2014 and offers a suite of short-term property finance products.

Oblix Capital’s chief executive Rishi Passi says this new partnership with OneSavings Bank would allow the company to “fulfil its strategic ambitions”.

He adds: “The new funding line, together with our own proprietary funds will allow us to enhance our current product range and appetite [for lending].”

Oblix’s managing director Anuj Nehra adds: “The added capacity provides us with over £100m of funding and allows us to deploy our capital wisely.”

OneSavings Bank says it has been providing senior secured funding lines to experienced lenders in the speciality finance sector for the past four years.

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