Since September 2017 – when Amicus announced that it would not be progressing with its banking licence – the business had undergone a strategic review to lower operational costs and ensure that its core, short-term property lending business, Amicus Property Finance, continued to grow.
Over the past 12 months, we believe the specialist lender has been working hard to secure a deal with an investor to progress Amicus Property Finance.
- Yasin Patel and Shoaib Bux to leave Amicus
- Amicus banking licence plans stalled
- PCF plans to enter bridging market
However, B&C understands that it has not managed to work out a deal and, as a result, Amicus Property Finance will not be able to continue lending, although it will continue to support the facilities in place.
Amicus – which entered the bridging market in 2010 (then named Capital Bridging Finance) – is now rumoured to be taking advice on its next steps.
It is understood the Amicus Finance PLC Group businesses, Amicus Asset Finance and Amicus Commercial Mortgages continue to trade as normal.
More on this story as it unfolds.