Short term lender, Bridging Finance Solutions, continues to grow and strengthen its operation, having doubled lending in the past year alone.
During 2021, BFS completed in excess of £25million in bridging and development loans across the UK, and is set to extend this by a further 20% in 2022, taking this to £30million in this current year.
In order to facilitate this level of growth, the specialist lender has strengthened its team to a total of 20 permanent staff from its Wirral based headquarters, with more appointments to be made in the year ahead to support the continued growth plans.
Steve Barber, Managing Director at BFS commented: “We have been quite staggered by the demand for safe and secure specialist lending during the past 12 months and have facilitated this through a carefully planned growth strategy. As an independent, FCA regulated business, we are agile and reactive, strengthening resources to meet this demand.
“We’ve experienced growth in both key areas of the business in both bridging loans and development loans. We are welcoming both repeat business and new customers seeking support for regulated self-build development and residential development, refurbishments and conversions.
“We continue to consolidate our position within our niche area of the market which sits primarily in the sub £2million market and the North, however, we are expanding geographically. Delivering an exceptional service through personalised account managers and digital marketing remains our over-arching commitment and is the foundation on which all our growth is based.
“I believe that demand for specialist lending will continue as high street banks remain cautious as they continue to manage the impact of government led financial borrowing including the Coronavirus Business Interruption Loan Scheme and British Bank Loan Scheme. Increasingly, specialist lending is being recognised as part of a proactive and viable solution by borrowers, brokers and professional advisors, and we are undoubtedly an important part of this movement.”