Residential finance provider Titlestone is to make its first steps into the commercial lending markets.
The company, which traditionally supplies stretched senior debt for residential schemes, will now supply loans to commercial developments within and around the M25.
Robert Orr, chief executive of Titlestone, said, “We are looking to fund projects up to a maximum of 55-60% of completed investment value and around 70-75% total costs. With many mainstream lenders unwilling to become involved in speculative commercial projects, developers have found access to funding difficult. We are hoping this new product, backed by our experienced relationship team, will help developers take advantage of the growing demand for new office space.”
The maximum loan size the Oaktree Capital-backed fund will supply will be £7.5m.
