The P2P lending exchange’s maximum loan size has been enlarged across the bridging, redevelopment and new-build residential sectors as a result of it securing new funding lines.
Loans will also be available on commercial and industrial assets, where circumstances allow, as Relendex plans to reach a lending target of £100m in 2019.
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Michael Lynn, CEO at Relendex (pictured above), said: “Our lending target is three times the amount we have lent to date and shows how quickly and effectively the business is growing.
“We are pleased that our track record of high-quality loan propositions and good returns to lenders are proving an attractive proposition and we look forward to many more joining our platform in the coming months.
“We remain focused on the traditional property underwriting values that have allowed us to grow to this point and pride ourselves on our competitive terms, efficient and flexible processes as well as direct access to decision makers for borrowers.
“The UK housing crisis presents a real opportunity for property developers and housebuilders, as long as they have access to finance.
“We believe that Relendex can play a significant role in supporting the industry by providing competitive interest rates to our borrowers, as well as our lenders.”