International investment group Topland and residential financing specialist Wolsey Securities have announced they are expanding their joint product offering to provide bridging finance and a wider range of senior debt finance.
International investment group Topland and residential financing specialist Wolsey Securities have announced they are expanding their joint product offering to provide bridging finance and a wider range of senior debt finance.
The move is aimed at meeting the demand for debt finance by supplying funding of £2 to £20 mln for the 'right opportunities, Topland said. The two companies focus on the UK residential housing market, primarily in the South East of England and Commuting Belt to London.
The finance available would be up to 55% of gross development value for senior debt and up to 70% of gross development value for bridging finance. Topland and Wolsey intend to invest in excess of £150 mln in the residential sector.
Stephen O’Brien, managing director of Wolsey Securities, said Wolsey had regularly received opportunities to supply senior debt and bridging finance since it commenced its partnership with Topland. 'To be able to complement our existing products with competitive senior debt and bridging finance packages is a natural development of the partnership. In addition having the ability to commit £20 mln + of senior debt to a transaction from one source that can move quickly and effectively we believe will prove attractive to customers and allow them to take advantage of opportunities without undue delay .'
