Wirral-based Bridging Finance Solutions has reported a 28% increase in lending to Merseyside customers during the past six months.
Steve Barber, Managing Director of Bridging Finance Solutions said: “Whilst UK-wide we’ve seen more movement within the property market during the past 12 months, we’ve experienced more enquiries and lending in Merseyside than ever before. Our figures speak for themselves – traditionally, we have worked with customers across the UK yet and continue to do so, however, the local market is particularly buoyant.”
Bridging Finance Solutions work closely with local mortgage brokers, accountants and solicitors, as well as developers and individuals directly who are able to benefit from short term borrowing, ultimately helping them realise their project ambitions.
Steve added: “There is a lot of activity across Merseyside at the moment for both residential and commercial schemes. Many of the projects that have been on hold for several years are being picked up again and considered viable, yet bank lending can still be difficult to secure. Many customers are using a bridging loan to take their project to a stage at which they can refinance and secure the long-term funding needed.
“Bridging is now being considered a more mainstream finance option and this type of lending is no longer viewed with scepticism with increasing numbers of professional advisors keen to partner with us and recommend BFS to their own clients. As the only regulated short term, lender on Merseyside, this is a natural progression.
“It’s great to be able to lend locally and to see many of schemes that we are involved in take shape first hand.”