Lender sees demand increase and plans geographical expansion

Wirral-based short term lender, Bridging Finance Solutions, doubled lending in the past year.

During 2021, it completed in excess of £25m in bridging and development loans across the UK, and is set to extend this by a further 20% in 2022, taking this to £30m in this current year.

To facilitate this level of growth, the specialist lender has strengthened its team to a total of 20 permanent staff from its Wallasey headquarters, with more appointments to be made in the year ahead to support the continued growth plans.

Managing director, Steve Barber, said: “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.

“We’ve experienced growth in both key areas of the business in 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.”

He added: “We continue to consolidate our position within our niche area of the market which sits primarily in the sub-£2m market and the North, however, we are expanding geographically.

“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.”