The funding to Mayfair Bridging is subject to completion of the necessary legal agreements and is targeted to go live on the 1st February 2012.
Mike Davies, chairman of Connaught Asset Management, said: “We are pleased to make this announcement of our intention to appoint Mayfair Bridging as our additional specialist partner for the income fund series 2.
“The appointment is intended to be completely complementary to the funds’ existing and highly successful relationship with Tiuta.
“As part of our focus on how best to use the fund’s assets it is important that we look at all potential opportunities and with Mayfair Bridging being based in the North of England, this new relationship will provide additional geographical diversification for us.
“We anticipate that the agreement will begin at the start of February, subject to the completion of all necessary legal agreements, and we are looking forward to working with the team at Mayfair Bridging following this process.”
Shoaib Bux, director at Mayfair Bridging, said: “We are extremely pleased at our appointment as an additional specialist partner to the series 2 Fund.
“2012 is set to be a big year for Mayfair as we aim to become a top tier bridging lender by offering larger loans that complement our existing portfolio of products.
“We have a strong appetite to lend and this will be the start of a strong and successful relationship with Connaught.”
