We provide structured wholesale finance solutions to other lenders, by broadly focusing on two areas:
Block discounting facilities to SME lenders
Structured facilities for bridging finance lenders
We look for established lenders with experienced management teams and can provide facilities between £3 million and £20 million with the ability to go higher.
A variety of structures can be put in place, with different levels of security and protection. The two typical structures are forward-flow and loan-on-loan.
Provide funding for up to 100% of another lender’s loans or an agreement to buy a set of loans, based on pre-agreed eligibility criteria. If the lender lends outside of the agreed criteria or in other pre-specified scenarios, they would be obliged to buy back the loans.
Provide a proportion of the lender’s advance to a borrower, typically at an advance rate of 70%-90%. The lender typically injects 10%-30%, which remains subordinated to the provider of wholesale finance.
What we typically look for in a lender:
Experienced and stable management teams: minimum five-year trading history
Parik joined Downing in August 2017 and heads the Specialist Finance Team, comprising both Property Finance and Wholesale Lending. On the property finance side he is primarily focused on residential development finance, non-speculative commercial development finance and bridging finance, whilst on the wholesale lending side he is focused on providing structured finance facilities to other lenders. Parik has 20 years' financial services experience, predominantly focused on debt and the real estate finance space where he has led over 150 transactions, but has broader experience including leveraged finance, restructuring and private equity placement. Parik spent nearly 10 years within the Corporate Bank at Barclays, including time as a Director in the Real Estate Finance Team, and has also held positions at Funding Circle, Citigroup, Puma Investment Management and Asante Capital Group.
Nigel joined Downing in January 2022 as an Investment Director in the Property Finance team specialising in residential development and bridging. Nigel has over 35 years experience in short term lending and has previously held senior roles at Wintrust PLC, Finance & Credit Corporation Limited and Amicus Finance PLC.