Relendex announces £15m partnership with BBB

UK development finance platform Relendex has partnered with the British Business Bank to support the small to medium enterprise (SME) housebuilding sector.

The British Business Bank has committed £15m, which will be managed by Farringdon Portfolio Ltd, an appointed representative of Relendex.

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Under the new partnership, the British Business Bank will invest up to 25 per cent in every eligible loan to SME housebuilders and developers, on equal terms with all other Relendex investors.

Relendex said this co-investment framework will significantly strengthen its capacity to provide tailored, flexible finance to SME housebuilders, helping to drive growth across the UK housing sector.

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To date, Relendex has originated around £200m in loans and anticipates rapid expansion over the next few years.

“We are proud to be working with the British Business Bank to expand the reach and impact of our lending programme. With the Bank’s support, we can scale up our role in delivering high-quality homes, including affordable housing, and play our part in driving growth across the UK housing sector,” said Paul Sonabend, chairman of Relendex.

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