Property lender reports £44m record year
Signature Property Finance, the Birmingham-based property finance provider, has delivered its best annual figures, supporting property developers and landlords to the tune of just over £44m for 2021.
The figure is an increase of 20% over 2020.
Signature said the result reflects its commitment of continuing to lend throughout the challenging trading conditions presented by restrictions caused by the pandemic, which lengthened times for both refurbishment and development projects.
While the overall lending figure was up, there was a small drop in the number of deals completed, revealing an increase in the average value of the deals done. This change in deal was driven largely by a rise in the value of new-build projects supported in 2021.
Signature CEO Tony Gilbertson said: “The figures are a satisfying endorsement of our approach in 2021, when we concentrated on supporting our existing clients, brokers and developers, to ensure their deals were completed on time and on the terms agreed at the outset.
“The headline number of £44m may not seem that high by some. But for a business our size, it represents another solid year from a lender committed to delivering on its promises and providing a high quality personal service that instils confidence that deadlines will be met.”