Omni Capital has received backing from its parent in its quest to reach a lending target of £1 billion in the next two to three years.
Omni Capital has lent £100 million in the first six months of 2012 and since then, new property-backed lending has continued to flow allowing the lender to increase its upper loan maximum from £7.5 million to £25 million.
Last week, the lender published details of a £20 million ‘super bridge’ loan for a high-end residential development in Surrey.
Its two-year strategy will see the introduction of a number of new products in both the residential and commercial property development sectors. For its distribution, Omni Capital will continue to rely on intermediaries.
“Since Colin Sanders was appointed as Omni Capital’s new chief executive officer last year, he has pieced together a highly experienced management team and made significant investment in the operations and infrastructure for the business, meaning it is well positioned to serve more customers with new products,” said Christian Candy, founder of CPC Group, the owner of Omni Capital.
“With the increasingly high demand for large value short-terms loans from developers and investors, Omni Capital is filling the gaps left by the banks and providing borrowers with an alternative solution. With Omni Capital’s guaranteed and substantial in-house funding and recent track record, we believe that by 2014 we will have developed the Omni Capital brand in new financial services markets and built a multiple product business.”
Sanders (pictured) added: “Omni Capital enjoys solid support from CPC Group, providing the company with direct access to substantial in-house funds and multi-layered back office expertise.
“Together, I’m confident we can build on our verifiable success in the bridging sector to move Omni Capital into new property-focused markets and product arenas. In doing so, our intermediary partners will feature large.”