Property bridging and development lender, KHK Capital, has secured a £25 million funding line from UK savings and lending specialist, Shawbrook Bank.
The new financing line enables KHK Capital to meet rapidly growing demand from new and repeat customers for lending solutions on a diverse range of residential and commercial property.
Andy Kent, founding partner of KHK Capital, said:
“KHK Capital has been a 'family office' working mostly with private funds for a number of years.
“We are very pleased to have secured this financing through Shawbrook Bank at a time when we are experiencing growing demand from our customers for funding on a variety of property projects, including residential conversion schemes, Permitted Development (PD) conversion schemes, ground-up builds and straight bridge loans.
“Shawbrook is the ideal lender for KHK – they are responsive, easy to work with and understand our business; they give us the freedom we need to implement our own policies and respond rapidly and flexibly to our customers.”
Typically, KHK Capital funds projects to refurbish residential properties and split into multiple units; PD schemes to convert commercial property to residential; ground-up housing projects; and simple bridge loans.
“We fund purchases, auction purchases and any type of refinance,” said Mr Kent. “KHK is a small and responsive team, directly controlled by the business owners and many of our repeat-customers like that we are responsive, flexible and easy to work with.
“We are seeing increasing demand from new and existing clients that respond to the way we operate, and this new tranche of funding means we will be able to add significant value to our existing loan book.”
Jake Francis, Associate Director, Shawbrook Structured Finance, said:
“We are very pleased to be providing KHK Capital with funding through this period of exciting growth.
“The business has a solid reputation with existing customers, which is fundamental at this time, and we are delighted to support the management team with the growing demand it faces in a sector we know well.”