Best ever year for bridging finance firm
During mid-December, traditionally a quiet time for the firm and general sector, £2.5m lending was completed within a two week period.
Managing director Steve Barber said:
“We have had a fantastic year culminating in a pretty dramatic end with deals done totalling some £2.5m, with many on tight timescales and completing within 10 days before the Christmas break.”
“Last year saw a healthier property market, with a cautiously returning confidence for those looking to invest, refurbish and build.”
“We’ve also seen an upsurge in those looking to use short term funding via bridging in different ways, from unlocking funds tied up in probate, managing tax bills and cash flow whilst property sells or re-financed onto long term funding.
“Mortgage brokers, accountants and solicitors are more tuned into the ways in which bridging can be used and are advising their clients to take advantage of bridging as a fast, short term finance solution.”
We believe that this momentum will continue into 2015 and we already have plans in place to help us manage with a continued increase in turnover.”