Corporate finance house and due diligence specialist Charter HCP has secured a £120m funding line.
The line, which is the latest in a number of funding lines secured by the business, will be used to fund bridging, refurbishment and development deals.
Tom Pritchard, COO at Charter HCP, said: “We identified some areas of the market that are not properly catered for, and we have hopefully built a product range that fills this gap.
“We have a very simple bridging, refurb and development product that has a uniquely flexible approach to the underwriting and risk pricing which will no doubt surprise a few of the current leaders in the specialist lending market.
“Keeping it simple is the aim even for the most complex cases. The other interesting point is that none of our funding partners have to leverage their business as they have the liquidity on their own balance sheet. This, in turn, allows CHCP to offer very competitive rates where appropriate and prudent.”
Charter HCP has provided corporate finance funding for clients with projects both in the UK and regions such as West and Central Africa, the US, Central and Eastern Europe, Southern Africa and Central Asia.
They have also recently signed important contracts with two major insurance companies/providers which allows them to offer surety bonds and other additional security solutions to their funding partners, some of which are available to the general lender/broker market.
Charter HCP added that it was also able to provide funding lines to other principle lenders in a number of different ways.