Magnet Capital CEO, Ashley Ilsen

Magnet Capital widens lending criteria

Specialist development finance lender, Magnet Capital, has extended its lending criteria — increasing its largest facility amount from £2m to £2.5m and aiming to reach more SME developers.

The company has expanded its reach into additional regions in the North of England and Cornwall.

Its lending now covers all of southern England, as well as parts of South Wales — specialising in small residential construction projects, including new builds, conversions and refurbishments.

Ashley Ilsen, CEO of Magnet Capital (pictured above), said: “We want to continue the expansion of the business and the natural way to do this is by widening our reach in terms of loan size and geography.

“Building a loan book based entirely on development finance is no mean feat — our experience and know-how in this market continues to put us in an exceptionally strong position and sets us apart, in what is already a very busy space”.

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