Although Excel Securities had not been actively lending in the bridging market in for a few months now, the news will still come as a shock to those in the bridging Loan sector.
According to the regional business news site, The Business Desk, at the end of 2009, Excel Securities owed its funders over £23 million, with £10 million of this to be paid to NatWest and the rest due to the Israeli Discount Bank and Bank Leumi (UK) plc.