Downing LLP agrees credit facility to support bridge lender Whitehall Capital

Investment manager Downing LLP has agreed a credit facility with bridge lender Whitehall Capital to support growth.

The facility will improve the security and flexibility of the company’s financing and enable it to provide stable and predictable returns at any stage of the economic cycle.

The lender’s portfolio focuses on senior debt backed by liquid, high-quality residential property as collateral.

The firm lends on individual properties and portfolios worth up to £20m, with a loan to value of up to 70% and for a period of up to 12 months.

Ian Allder, Head of Block Discounts at Downing LLP, said: “Downing is delighted to partner with Whitehall Capital. This relationship shows that we are committed to supporting key players in the bridge financing industry.

“Whitehall is an impressive company and its experienced team underwrite loans that offer good risk-adjusted returns. We very much look forward to working together.

Anthony Bodenstein, Managing Partner at Whitehall Capital, added: “This new line of financing increases our flexibility, which improves our competitive advantage and enables us to capture a greater share of the UK bridge market.

“We are delighted to be working with Downing, a highly regarded investment manager and wholesale funder.”

The bridging market is growing, increasing by nearly a third since the start of the pandemic.

New lenders including StreamBank and some lenders secured new funding including Mint Property Finance and Spring Finance.

Transition market participants said they expect the loan market to diversify as demand continues to rise.

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