Specialist lender Cynergy Bank is launching a \u00a3500m fund to help property entrepreneurs continue to invest and make the most of opportunities during Britain\u2019s departure from the European Union. Launching today, The Property Entrepreneurs Fund, targets property developers and investors who have an eye on the medium to long term.<\/p>\n
Over the past two years there has been a slowdown in UK house price growth, at least some of which is likely to be attributable to anxiety caused by Brexit. At the same time, entrepreneurs have found it harder to access finance. More than a third of small businesses expect Brexit to make it more difficult to access finance. (1)<\/p>\n
\u201cThe deal that Britain eventually strikes with the EU is unlikely to end the uncertainty in the property market,\u201d said Nick Fahy, Chief Executive of Cynergy Bank. \u201cOur customers tell us they expect to see continued downward pressure on property prices for some time, but they also tell us they\u2019re impatient to start investing again. We\u2019ve launched this fund now, because we\u2019ve seen an upturn in drawdowns from property investing clients \u2013 showing that they are no longer waiting for Brexit clarity to invest.\u201d<\/p>\n
One in four UK households \u2013 almost 5.8m \u2013 are expected to be private rentals by 2021 as home ownership and social renting continue to fall.(2) \u201cThe private rental sector has doubled in the last twenty years,\u201d said Nick Fahy, \u201cand all the economic and demographic data tells us it\u2019s going to continue to grow.\u201d<\/p>\n
\u201cWe already support thousands of property developers and landlords and this new fund is targeted at property entrepreneurs looking to expand and diversify their portfolios.\u201d<\/p>\n
This includes the student accommodation sector which is structurally undersupplied in many parts of the UK. The situation is likely to deteriorate further with universities becoming increasingly reliant on overseas students at a time when the UK is becoming more affordable given the weakness of sterling.<\/p>\n
\u201cThis creates new opportunities for private landlords,\u201d said Nick Fahy, \u201cespecially in smaller university locations which are less attractive to purpose-built providers.\u201d<\/p>\n
The Property Entrepreneurs Fund is aimed at developers and landlords nationally.<\/p>\n","protected":false},"excerpt":{"rendered":"Specialist lender Cynergy Bank is launching a \u00a3500m fund to help property entrepreneurs continue to invest and make…\n","protected":false},"author":1,"featured_media":2292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_masonry":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0},"categories":[103],"tags":[],"_links":{"self":[{"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/posts\/2379"}],"collection":[{"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/comments?post=2379"}],"version-history":[{"count":1,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/posts\/2379\/revisions"}],"predecessor-version":[{"id":2380,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/posts\/2379\/revisions\/2380"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/media\/2292"}],"wp:attachment":[{"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/media?parent=2379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/categories?post=2379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/tags?post=2379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}