Lending picks up for Bridging Finance Solutions

WIRRAL-based Bridging Finance Solutions saw a sharp increase in lending in the first half of the year.

The Wallasey firm has put the increase demand down to the resurgent Merseyside property market.

It said lending volumes have increased by £2.4m, up 39%, representing an extra 22 transactions. The business declined to divulge the total sum committed in loans during the period.

Managing director Steve Barber 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 particular buoyant.

“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.”

The company is not related to Cheadle-based Bridging Finance, which is part of Blemain Group.