Mortgage Centre IFA links with developer to set up loan deals
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Mortgage Centre IFA has entered into a partnership with property developers the Candy Brothers to offer short-term loans and developer finance.
The company, called Omni Capital, has an initial tranche of over £50m to lend.
The loans will range from £50,000 to £5m, with loan periods of between three and 12 months.
As well as short-term loans, the company will offer finance to real estate developers to fund new projects in London.
Omni Capital will be run separately from Mortgage Centre IFA and CPC Group, the property company owned by Christian Candy.
Mortgage Centre IFA group director Fahim Antoniades says: “What we are looking to achieve with this venture is a commonsense approach to good quality lending. A lot of the retail banks have been subject to the kind of financial pressures that have stopped them from getting involved in the short-term sector.
“We believe the short market is a growing market and we will be looking to distribute through intermediaries alongside our direct offering.”
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