Amicus lends record £72m in July

Amicus Property Finance, the short-term property lender, has announced its largest monthly lending volume since it launched in 2009, with £72 million (€79 million) written during July.

Amicus Property Finance, the short-term property lender, has announced its largest monthly lending volume since it launched in 2009, with £72 million (€79 million) written during July.

The London-based firm said its July volumes were driven by a “confident and buoyant” short-term property lending market. It also cited the expansion of its operations through the opening of a new office in Manchester last year as a key factor for lending growth.

July’s record figure covers a regional spread of loans. One of the main deals last month was the £15.8 million loan for a development in central Birmingham.

The firm provided more than £500 million of short-term property loans last year, and said lending in the first half of 2017 was “strong”.

Amicus has seen consistent funding from the Omni Secured Lending (OSL) funds. Vintages I, II and III have provided more than £500 million of institutional third-party funding to the business.

During January and February 2017 alone Vintage III raised more than £200 million of new institutional capital, which is being actively deployed to fund new lending activity.

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