Enness Development will be providing high-quality mortgage solutions for developers of all levels and sizes, whereas Enness Commercial will be offering advice and solutions for every aspect of commercial finance, including funding the purchase of commercial property, VAT invoicing, invoice financing, and cash flow.
While Enness has a long history of expertise in commercial and development finance, the brokerage explained that these launches signify its commitment to these sectors.
The move follows a 60% rise in commercial enquiries in the six months to April, with many investors now seeking to diversify their portfolios amid widespread political uncertainty.
Speaking exclusively to Bridging & Commercial, Chris Treadwell, head of commercial and development at Enness (pictured above), said the new team would consider a wide variety of securities, including luxury art, vehicles and pensions.
“It’s not always that asset that will make the deal work,” he explained, “it’s looking at what else they have in the background that you can lend on.
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“You get computing systems that can’t do that and a lot of guys just don’t understand that market.
“But we have the right relationships where we can make that happen.”
Enness Commercial has already completed a number of deals following a soft launch in January, including arranging a loan for a foreign national looking to purchase a Rolls-Royce.
“… We’ve got people that are lending the money.
“If it’s not fitting with the high street or the standard lenders, [that’s] where we fit in.”
The launch of Enness Commercial and Enness Development comes amid a period of expansion for Enness, during which the brokerage has also created dedicated international and bridging divisions.
Commenting on the launch, Islay Robinson, CEO of Enness, added: “2017 marks Enness’s 10th anniversary and the launch of our commercial and development services is one example of how much we have grown in the last 10 years.
“Our growth in the last year … proves our position as a brokerage [which] is not restricted by asset class.
“We can provide holistic advice on the financing of a client’s property portfolio, something there is huge demand for in the current climate.”