Magnet Capital targets £60m of new development loans in 2022

Specialist development finance lender Magnet Capital is targeting £60m of small development finance loans in 2022.

The North London based lender has grown consistently since its launch in 2018, and is now aiming for its biggest year yet.

The lender recently hired new staff to bolster both operations and sales sides of the business.

Ashley Ilsen (pictured), chief executive of Magnet Capital, said: “We’ve carved out a great niche in the specialist lending market, focussing on development finance loans below £2m.

“We’re still seeing this area as poorly served and still hear some concerning stories about the quality of lending practices in this part of the market.

“At Magnet Capital we put a tremendous emphasis on transparency and quality of service.

“This includes the ability to be genuinely flexible throughout the loan which is needed for development projects now more than even. Our ability to consistently deliver has put us in a fantastic position going into 2022”.

Magnet Capital has also recently launched a new website to help speed up the process of handling incoming enquiries.

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