Property finance firm agrees funding after record first quarter
Following its best ever year in 2022 and a record first quarter figure of £26.6m, Signature Property Finance has agreed additional funding with Hampshire Trust Bank to support further growth.
The success in Q1 was built on a record monthly total for the short-term property finance specialist of £12.4m in March.
Thomas Howells, COO at Solihull-based Signature Property Finance, said: “The upward trajectory of the business in recent years has been well-supported by our existing funders, but the highs of last year and the impressive, record-breaking start to this year, accelerated our funding requirements.
“It was important to find a funder that understood the ambition of Signature and recognised the significant strides it has made, with a new management structure and a clear commitment to support brokers and their clients with an unrivalled relationship-driven service.
“It was clear from our first conversation with the team at HTB, it was a funder that understood what we were trying to achieve at Signature and how our client-centric approach was likely to continue delivering the impressive year-on-year growth recently reported.
“We attribute much of this success to shifting our focus from rates to relationships. Our clients and our clients’ clients know that Signature will follow through on the promises it makes at the start of the deal – there are no nasty surprises just before drawdown or later in the process.
“This commitment to do what we say we are going to do, appears to strike a chord with clients and ensure we are their first choice when certainty of funding is key to the long-term success of their development, rather than the appearance of a few pounds saved upfront.”
Paul Maurici, managing director of Wholesale Finance at Hampshire Trust Bank, commented: “Signature has an excellent reputation with its growing customer base, an experienced management team and has achieved consistent growth over many years.
“The business is a great example of the type of short-term property finance lender HTB Wholesale Finance seeks to support, with our focus on helping UK businesses grow. The increased facility enables Signature to continue delivering for its customers and for HTB; it is gratifying to be part of Signature’s continued growth story.”
