Alan Margolis joins funder Fintex as a consultant
Alan Margolis has joined Fintex Capital as a consultant to help it provide funding to short and medium-term lenders.
United Trust Bank’s former head of bridging joined part-time but expects to play a significant role in helping Fintex enter the UK market, as the business has already funded lenders in Europe.
Margolis said: “I can help them with my contacts and knowledge of what bridging lenders require from funding lines.
“Despite a post Brexit blip experienced by many involved in the short-term market following the EU Referendum, the demand for short-term finance remains buoyant.
“Many market participants are actively exploring entering into or beefing up their presence in this market, despite the fact that it is perceived to be both crowded and competitive, as recently evidenced by interest rate reductions from Masthaven, Precise and UTB.
“Fintex is now expanding into the UK, where in the near future institutional funding will be injected into a number of different real estate lending platforms, including bridging lenders.”
Fintex aims to fund its first cohort of lenders in the next two months, while Margolis said bridging lenders will find the proposition attractive.
Margolis started working with Fintex due to his contact with Robert Stafler, chief executive of its parent company Excellion Capital, which focuses on advice, lending and investments.
He is still free to do other work and continues to pursue a long-term opportunity on a full-time basis.