Walker Crips is launching what it says is the UK's first regulated bridging finance investment fund for its newly created alternative investments division.
The target launch date for the fund, named TB Walker Crips Income from Short Term Lending fund, is 1 August. It will be managed by James Allen. It aims to achieve an annual income of 8.4% by providing credit to short-term lending companies that offer residential property bridging finance loans. The income is generated through interest on capital charged on the loans provided to borrowers seeking short-term funding on UK residential property acquisitions or conversions, and the risk is spread by using three bridging finance companies. Allen said: "In today's low interest and growth...
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