The London-based bridging lender said the increased funding allowed it to increase its exposure to the bridging loan market against prime London property and that it could now fund transactions as low as any other lender in the market.
Montello added that the fund continued to meet all targets and it was providing investors a return of 8.5% per annum.
Gary Clark has also recently been appointed as director of business development and recently hired additional administrative staff to assist with increased deal flow and funding.
Christian Faes, managing director of Montello, said: “At Montello we do not have ‘products’ per se, because our funding is flexible and we are not confined to a particular criteria. We are a principal bridging lender with our own capital and no fixed criteria.
“We are able to fund everything from one month loans to medium term loans of up to three years at competitively priced rates. We are also regularly completing deals in the £1m to £5m range, and our appetite is increasingly strong.”
