AIM listed Sancus Lending Group has issued a trading update ahead of the publication of its interim results at the end of September.
The specialist property lender saw a change in senior management last year, with the Group since focussing on expanding in UK and Ireland. The UK business development team has increased in headcount fourfold since then with a new team based in the North, headed by Mel Fourie and expansion of the team in the South headed by Jaxon Stevens.
In the first six months of 2022 Sancus has seen new loan facilities written of £87m compared to £83m* for the full year 2021. This growth reflects a 62% increase in comparison to the six months to June 2021, when £53m of new loan facilities were written.
Growth is in line with expectations, supported by the continued maintenance of robust institutional grade credit processes throughout the Group whilst continuing to deliver growth.
The Group continues to ensure it has access to a diversified pool of funding to support the growth in new loan facilities, including institutional funding lines, the Sancus Loan Note Program and Co-Funders.
Rory Mepham, (CEO, Sancus Group), “This update reflects the hard work of the teams across all our jurisdictions and is an indication that our new sales teams are settling in and generating business. These are exciting times for the Group and foundations for the continued future growth of the business.”
* Adjusted 2021 figure, previously reported loan facilities for full year 2021 was £80m.