In a strong performance in the first half of 2012, Omni Capital made available to borrowers total lending amounting to £100 million. Its customers included small and medium enterprises, private individuals and property professionals looking to complete or expand development projects.
With direct access to substantial in-house funding from its parent business, Omni Capital is able to make rapid lending decisions. Loans were granted for a wide range of purposes: from buyers looking to take advantage of one-off investment opportunities, to large-scale property refurbishment and development programmes.
Carefully balancing the need for flexible but prudent lending, individual loans varied in value from as little as £30,000 to over £8million. All loans were written in strict accordance with Omni Capital’s lending policy, and median loan-to-value ratios are firmly in line with sector norms.
Colin Sanders, chief executive officer, said:
“We made a strong start to the year lending £35million in the first quarter. The momentum has continued, and the second quarter has been even better pushing our half-year numbers to £100million in total loans granted by value.
“These are hard lending statistics – not PR chaff about numbers of applications received or decisions to lend ‘in principle’ – and confirm that the demand for competitively-priced and flexible bridging products remains high.”
“It will have escaped no-one’s notice that individuals and businesses alike are struggling to get access to credit. Working closely with specialist brokers, we’re particularly aware of high demand for liquidity-injecting, short-term products from frustrated property developers.
“Too many of these highly-experienced professionals now find themselves caught in limbo as banks withdraw or refuse to extend their funding. With this situation set to continue, Omni Capital is perfectly positioned to fill the gap by lending where the banks will not.”
