This capital will enable the business to expand its development lending proposition substantially, offering loans of up to £50m.
Samantha Williamson will be tasked with supporting property investors in reaching their end goal.
Magnet Capital has also recently launched a new website with the intention to help speed up the process of handling incoming enquiries.
All trail ERCs have also been removed and borrowers now only need to provide three-months’ proof of rent.
Paul Gavin has joined as a BDM for the North, with more than 15 years of residential and commercial property finance experience.
The project will deliver 53 one-bed and 16 two-bed flats and a small ground-floor retail unit next to the Waterside regeneration project.
In the process of purchasing a second restaurant, the buyer had miscalculated the amount of money required to complete the deal and pay for renovation and the necessary change of usage costs.
Fiduciam has also reduced rates, with its new product suite starting from 0.57% per month for bridge loans and non-ground up projects.
The 12 month facility, introduced by Adelpha Capital, frees up cashflow for the developer to begin work on its next development project.
The research showed that COVID-19 has shifted perceptions of protection, with four in 10 businesses wishing that they had done more in advance.