Century offers first charge residential bridging at up to £1m for between three to 12 months at interest rates from 1.25% to 2% per month. It will also offer second charge residential bridging at up to £500,000 for three to 12 months at rates of 1.5% to 2.5% per month.
Its website says that it will offer a fast track non-status bridging loan service and is able to lend up to 100% of the purchase price and up to 100% of the development costs subject to valuation.
Century Capital is owned and managed by Paul Munford who, in late November 2010, launched bridging lender Omni Capital with CPC Group. The following June CPC Group bought out the remaining 50% of Omni Capital’s shares from Munford while retaining him as a consultant.
Munford has now setup Century with John Wheeler, former Omni Capital sales director, as head of sales, and Zoë Claydon as underwriting manage.
Simon Juniper, director at Only Bridging, said: “I’ve heard of Century Capital recently doing good deals here and there. It’s always positive to see a new lender come into the bridging market and offer more potential business.”
