Zorin Finance launches investment loan

Alternative property lending specialist Zorin Finance has launched an investment loan product aimed at both residential and commercial real estate professionals.

Target sectors include development exit, stabilised residential and commercial, private rented sector (PRS), regional offices, light industrial and distribution, hotels, student and multi-tenanted estates or portfolios.

Loans will be available for up to 5-years with maximum loan-to-values (LTVs) ranging from 60% to 75% depending on asset class and with ticket sizes between £2m and £150m.

Flexible debt structuring will allow for servicing via a combination of interest current and PIK.

As well as this, Robert Foley, formerly a senior director on the Santander real estate team, has joined as head of investment loans with over 20 years’ experience in real estate debt origination in Ireland, the US and the UK.

Luke Townsend, founder and chief executive, said: “Our expansion into this sector now enables us to provide a full-spectrum lending proposition; our borrowers can use our bridging loans to secure sites or enhance planning before rolling into our development finance facilities and then have the confidence of an exit at practical completion via a Zorin investment loan.

"We will target new-to-Zorin real estate investors too, both residential and commercial, who are being neglected by the mainstream banks as they retrench from this space in order to shore up their balance sheets post pandemic.

Foley added: “Zorin Finance has established itself as one of the best-known alternative property lenders in the UK and I am excited to have joined such a dynamic company as it expands into the investment loan market.

"As we emerge from a turbulent 18 months, we hope to bring a fresh approach to investment lending via a product that provides more flexible terms than those offered by high street banks.”