Cynergy Bank has launched the £500m Property Entrepreneurs Fund to support property investment.
The specialist bank has provided the fund to help property entrepreneurs make the most of opportunities during the ongoing Brexit process, targeting property developers and investors focused on the medium to long term.
“The deal that Britain eventually strikes with the EU is unlikely to end the uncertainty in the property market,” said Nick Fahy, chief executive at Cynergy Bank (pictured above).
“Our customers tell us they expect to see continued downward pressure on property prices for some time, but they also tell us they’re impatient to start investing again.
“We’ve launched this fund now, because we’ve seen an upturn in drawdowns from property investing clients — showing that they are no longer waiting for Brexit clarity to invest.”
Over a third of small businesses expect Brexit to make it more difficult to access finance, while nearly one in four UK households are expected to be private rentals by 2021.
Nick added: “We already support thousands of property developers and landlords and this new fund is targeted at property entrepreneurs looking to expand and diversify their portfolios.”
This news follows two recent appointments to Cynergy Bank’s senior leadership team.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Temenos partners with ClearBank for cloud payments
Banking software company Temenos has formed a strategic relationship with ClearBank to provide banks with a faster route to market for real-time cloud payments...
Unity Trust Bank registers 34% rise in profits
Unity Trust Bank increased profits by 34% in 2019...
Believe the hype – why explainable AI is a trend that’s here to stay
Technology has become a ubiquitous part of our day-to-day lives...
Piloting tech updates: ‘The bigger the bank, the harder it is to get anything done’
In the latest Medianett filmed roundtable session, we discussed how important technology is in the banking space, and what impact the industry expects it to have on its businesses in the future...
What banks need to know about cloud security
One of the most common perceived concerns when adopting the cloud is the issue of security...
OakNorth sees 95% increase in pre-tax profits
OakNorth Bank has announced a 95% rise in pre-tax profits in 2019 to £65.9m, up from the £33.9m recorded in 2018...
Redwood Bank signs up to Women in Finance Charter
Redwood Bank has announced that it has signed up to the Women in Finance (WIF) Charter...
Masthaven launches digital Women in Leadership programme
Masthaven Bank has launched a new Women in Leadership digital development programme for female senior leaders...
Protecting against supply chain disruption and the domino effect
Disappointingly, many UK SME business owners don’t understand their supply chains...
Confused about which Isa to choose? Hopefully this mini-guide will help…
We are now firmly in Isa season, so you’re likely to read multiple articles about the most competitive Isa products in the market and how best to make the most of your Isa allowance before the end of the tax year...
Garden shed entrepreneurs contribute £16.6bn to the UK economy
Entrepreneurs who run their businesses from garden sheds contribute £16.6bn annually to the UK economy, according to a recent study...