‘Our core value is reliably supporting brokers. Always’
By David Craik -
Residential and commercial bridging lender Ortus Secured Finance has joined the Bridging Loan Directory to highlight its regional and national strengths to brokers.
The principal lender, set up in 2013 and with offices throughout the UK in London, Belfast, Manchester and Glasgow; offers residential, auction finance, development exit and commercial loans, as well as buy-to-let and holiday let solutions for developers, property investors, and landlords.
Rates for standard residential bridging loans start at 0.49% per month for loans between £100,000 to £1million at up to 70% LTV. This is for straightforward transactions for UK nationals / residents or UK SPVs.
Specialist residential loans encompassing foreign nationals and complex structures range between £100,000 and £25millon with LTVs up to 70% and interest rates from 0.65% pcm.
Commercial bridging loans which tend to be more bespoke compared to residential, are typically up to £25million with rates starting at 0.65% pcm. The LTVs depend on the sector, which is broad taking in offices, industrial and light industrial, hospitality & leisure, nurseries and care homes.
Despite the pandemic and Brexit, demand has grown over the last 12 months and indeed, in August, the group revealed that, driven by the stamp duty holiday, residential bridging loan enquiries, had jumped by 25% from the previous month and up by 300% on the same month in 2019.
Demand has stayed constant since then thanks to the market but also Ortus’s five key values.
“Our core value is ‘reliably supporting brokers always’,” explains marketing manager Nicola McCoosh. “We are in this for the long haul and continued to lend sensibly when other lenders pulled out during the pandemic. We’re proud to have been able to consistently support our brokers throughout the challenges of the last 18 months.”
Ortus also prides itself on its combination of national coverage and local strength which was further bolstered when its Glasgow office opened its doors last July.
“By having offices throughout the UK, we have the local market knowledge and physical presence to make quick decisions for our clients,” McCoosh explains. “
A broker will always speak to someone who knows their market and the unique challenges they face. Even though we are a national business we retain the benefits of a smaller company. We are quick to react with easy access to decision makers and can issue a credit-backed AIP in less than 24hrs.”
McCoosh also stresses the importance of ‘honesty’ around loan terms and communications with clients.
“Once committed to a transaction we will strive to keep with the terms,” she states. “We adhere to a Treating Customers Fairly policy and so our terms are transparent with no hidden nasties. The expertise of our team and their diverse skillsets helps us in that aim.”
So, she hopes, will joining the Bridging Loan Directory.
“We are excited to be part of BLD” she states. “We are keen to continue to raise awareness of what we offer to the BLD community so that brokers will have us in their mindset when a new deal lands on their desk.”