Downing Development Finance hits £100m committed funding milestone

Downing Development Finance (DDF) has committed over £100m of secured loans to SME property developers since its launch in December 2017.

The specialist lender has focused on residential-led schemes across the country and has committed funding for 37 deals.

Parik Chandra, partner and head of property finance at Downing LLP (pictured above), said: “This is funding which will have a tangible impact in the real economy, facilitating the development of around 500 units and delivering family housing across the UK.

“While market conditions are more challenging than they were a year ago, reaching the £100m milestone in these conditions demonstrates our desire and ability to lend through market cycles.

“A significant driver of our success, and something that also sets us apart from other funders, is that we genuinely invest across the UK instead of being too London-centric.”

DDF expects to commit approximately another £100m of funding over the next 12 months, and Parik believes there will continue to be an element of risk in the sector.

“In this environment inevitably some loans will enter distress, however with a well-diversified book, no hard defaults and with repayments of £21 million to date cementing our track record, I genuinely believe we have one of the best teams and one of the best performing books in the market.”

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