Following its rebrand from GLI Finance, Sancus Lending Group is boosting its bridging capabilities in the UK and Ireland to help meet its target of increasing its live loanbook to £500m over the next three years.
The group specialises in property bridging and development financing from £500,000 to more than £10m throughout the UK, Ireland, Jersey, Guernsey, Gibraltar and the Isle of Man with a niche in dealing with more complex lending proposals.
Andrew Whelan, (pictured) outgoing chief executive of Sancus Lending Group, said the group’s live loanbook is currently in excess of £200m.
He said the group is simplifying its corporate structure following the completion of the rebrand last month. The group will now be streamlined into four main areas: origination; co-funding or loan management; finance; and operations, with a bigger focus on property finance.
Whelan said the group is expanding its bridge finance capabilities and is looking to grow its team in the UK and Ireland.
“We have a strong niche there and we’re looking to push on for it,” he told Peer2Peer Finance News.
“And in the offshore areas, such as Guernsey and the Isle of Man, we are focusing on those two core areas but we also have our niche product of ‘the bridge to somewhere’.
“With ‘the bridge to somewhere’, we can lend to a very wealthy family office that needs liquidity to make an acquisition and take some security on the property and repayment on disposal of another asset that’s unrelated.
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“It’s not a classic bridge with the sale of the property, it could be a sale of a business. We know we’re comfortable and we can operate with greater flexibility and innovation.
“In the offshore world we could be backing a trust company to make an acquisition of another, there’s a smaller population and we understand our markets and the borrowers more intimately. In the UK and Ireland you need to find your one niche and for us that’s bridging and development.”