Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
9Y Capital and Kroo Bank Announce Bridging Loan Funding Partnership
9Y Capital has entered into a long-term funding partnership with digital bank Kroo Bank to support bridging and refurbishment lending. The agreement involves a forward flow funding arrangement, with Kroo Bank providing funding for a portion of 9Y Capital’s future bridge and refurbishment loan originations.
The partnership is designed to support 9Y Capital’s continued growth in the UK bridging finance market. 9Y Capital was founded in 2023 by Stephen Johnson and Karen Bennett, and focuses on lending to experienced property investors and developers.
Kroo Bank’s involvement will see it fund part of 9Y Capital’s loan originations through an ongoing forward flow structure. This arrangement is intended to provide stable, long-term funding for 9Y Capital as it scales its business.
For UK letting agents and inventory clerks, the partnership signals ongoing support for property investors and developers seeking bridging and refurbishment finance. This may impact the availability of short-term finance for property transactions and refurbishments across the UK property sector.
Source: Mortgage Solutions