Kenton Finance, a leading provider of property finance in the North-West of England, has announced an ambitious expansion into the heart of London.
The expansion will see the suppliers of bridging finance establish offices in Mayfair and Canary Wharf, with both offices serving as a joint London base for the company as it looks to grow its presence in the capital’s property market.
Expanding into London is the latest stage of Kenton Finance’s growth since its foundation in 2015 and forms a key part of the company’s aim to establish a loan book of £500m by 2030.
The company, which has been based in Cheshire to date, has lent over £375m through hundreds of bridging and development loans to property investors and developers across the UK.
Kenton Finance’s loans, which are available for between £25,000 and £5m, are used for a range of purposes – including for the purchase or refinance of property, the quick purchase of auction properties, developments that require staged funding, refurbishments, and re-bridging at a more competitive rate.
With the government already hugely behind its target of 160,000 new homes a year (rising to 300,000 new homes by the mid-2020s), much of Kenton Finance’s focus will lie in helping to ‘bridge’ that gap by supplying finance to new housing projects.
As part of this focus, Kenton Finance doubled its maximum loan offering earlier in 2020 from £2.5m to £5m to provide greater capital for housebuilders.
Kenton Hackney, Founder and CEO of Kenton Finance, said: ‘The expansion of Kenton Finance across two offices in London is just the start of our ambitions for the next decade. To be able to support developers, buyers and investors across the UK market by injecting finance into the property market during such uncertain times is something that we are extremely proud of.’