Montello Bridging Finance was a British specialist real estate financier based in London, run by parent company Montello Capital Partners, which was also the asset manager for the Montello Income Fund, the Montello Development Finance Fund and the Montello Real Estate Opportunity Fund.
The Montello Income Fund was a real estate bridging finance fund that is focused on lending against the residential property market in the United Kingdom (specifically in London).
It would transform into fintech lender
LendInvest in 2013.
History
The Montello Development Finance Fund was a specialist development finance lending vehicle, which focusses on lending to residential developers in London.
Montello Bridging Finance funded its transactions through its own suite of funds (the Montello Income Fund and the Montello Development Finance Fund) and bank funding lines.
The Montello Income Fund is set up as a UK dual exempt unit trust and limited partnership that was open to individual investors, offshore bonds, and
Self-invested personal pension
A self-invested personal pension (SIPP) is the name given to the type of UK government-registered personal pension scheme which allows individuals to make their own investment decisions from a wide range of investments by HM Revenue and Customs ( ...
(SIPP) investors.
The Fund lended directly to end borrowers in the UK, and took first charge
security interest
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the '' collateral'') which enables the creditor to have recourse to the property if the debtor defaults in m ...
for all of its loans in the name of the Fund.
As a
bridge financing
A bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-term financing. It is usually called a bridging loan in the United Kingdom, also known as a "caveat loan ...
specialist, Montello provided short-term funding solutions for borrowers. Examples of where Montello provides bridging finance includes auction purchases, for corporate cash-flow issues, to complete under-market value purchases, or other instances where fast settlements are required.
In 2013, it spun off the business to
LendInvest which became a
fintech
Financial technology (abbreviated as fintech) refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, ...
lending company. At that time Montello Capital Management had over a quarter of a billion dollars under management.
References
External links
Montello Bridging Finance websiteMontello Income Fund website
Defunct companies based in London
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