Property lender upbeat as loan book trebles
LENDER Signature Private Finance has reported a strong first half performance, boosted by a surge in demand for short term property finance in the run-up to April’s stamp duty changes.
The Solihul-based business trebled its loan book while enjoying an “even more productive” May as the property market shrugged off any potential uncertainty among investors.
Interim CEO at Signature Private Finance, Tony Gilbertson, said: “Although the figures make good reading and emphasise the attractiveness of our offering, I’m actually more heartened by the early signs for the second-half of the year, which I expect to confirm our continued growth.
“Brokers and clients like what we do and the way we do it. It really is a simple as that. There are no special tricks to hit targets in this market; we are dealing with intelligent, demanding, busy people who want us to deliver on our promises and offer a range of products tailored to their needs.
“From launch in 2013 we have concentrated on developing strong relationships with brokers, investors and property developers, built on our deep and genuine understanding of every aspect of property development, not just the figures in a balance sheet.”
Mr Gilbertson said that despite some pessimism surrounding the UK’s vote to leave the EU, he is confident the property market will endure.
“There is little doubt the London scene may suffer in the short term at least, but the regions in which we are traditionally strong, the Midlands and Wales, I expect to show few signs of distress,” he said.
“The property market is not the main focus for most of the high street lenders and if they tighten their lending criteria, I see a real opportunity for short-term property finance specialists like Signature to fill the vacuum and increase our lending in the face of perceived adversity.”
