Jersey-based Sancus BMS Group has taken ownership of sister operation Funding Knight, which changes its name to Sancus Funding with immediate effect.
The move is part of a review of operations by Guernsey-based owner GLI Finance, which has transferred its holding in Funding Knight to Sancus.
It says the aim is to centralise operations within the Sancus Group and to add UK bridging and development finance to Sancus BMS Group's portfolio.
Based in Basingstoke, Funding Knight provides property bridging finance, property development finance and commercial property loans to SMEs and entrepreneurs in the UK and Ireland. It gained Financial Conduct Authority authorisation in July last year.
The firm will continue under the leadership of Managing Director Dan Walker, who commented: “By bringing the business under the Sancus umbrella, we can provide our clients and funders with a broader offering. With access to greater investment from the group, the business now has increased capability to service demand for property finance from UK, offshore and Irish businesses.”