The specialist development finance lender said that it had been targeting the sub-£1m development finance market.
“It just goes to show how far being a true specialist provider can take you,” said Ashley Ilsen, CEO and co-founder at Magnet Capital (pictured above).
“The Magnet Capital team [has] decades of development finance experience and this has been vital in launching a new lender in a tricky market.
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“We market ourselves as a finance partner and I think that in today’s market developers are more interested in working in a funding partnership, rather than with a traditional, ‘unapproachable’ lender.
“We’re seeing a wonderfully mixed type of enquiries — from new builds to barn conversions and everything in between.”
Sam Howard, co-founder and managing director at Magnet Capital, said that the lender’s doors were open, providing access to funds without fuss.
“This is proving extremely attractive to borrowers and our introducer partners alike, who want to work with a development finance specialist that provides certainty of funds, and that is always at the end of the phone for advice and assistance if required.”