Giant UK lender plunges into administration - £138m debt

A major UK bridging lender has plunged into administration as the director of the company resigns.

Century Capital appointed administrators on January 30th, with Paul Munford leaving his role.

This comes after a number of high-profile departures at the backend of last year.

According to reports, Century Capital had accumulated £138m in debt by 2024.

The company has been funded by the likes of Natwest (£100m) as well as £250m from a US credit fund.

In 2024, Century Capital had a turnover of approximately £29m.

This comes as specialist lender Market Financial Solutions also entered administration this year.

Paresh Raja, founder of Market Financial Solutions, said: "This is an extremely difficult moment for everyone connected with Market Financial Solutions. As a family-founded business that has been built over nearly 20 years, this is not a decision that has been taken lightly."