Following a year of considerable growth for Bridging Finance Solutions, which saw turnover double in 2015, the firm has announced growth plans again in 2016.
As bridging loans are being increasingly recognised as a mainstream finance solution, the Wirral-based firm is seeing more enquiries and deals secured with banks directly as well as through brokers and solicitors.
A more buoyant property market is supporting the continued growth of bridging deals secured with customers increasingly frustrated with the time taken by mainstream lenders to arrange finance.
Steve Barber, Managing Director of Bridging Finance Solutions said: “We can arrange finance for a deal within five working days. This is in stark contrast to banks and building societies who have long winded processes to follow.
“A bridge is obviously not a long term solution but it can be a way of securing a property before the long term finance is put into place. People are coming to us more and more and building the bridging cost into their wider development costs which is where bridging really comes into its own and this, I believe, has really helped fuel our growth.”
In order to sustain the upturn in demand, BFS continues to strengthen its team which is expected to grow by a further 2-3 team members again this coming year.
Steve continued: “We naturally need to take more people on to be able to process and support customers and retain that level of customer service that is expected of us. We have announced some strong projections for 2016 but ones which I believe are incredibly realistic if our growth trend continues.”