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.
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