Specialist finance firm grows issued terms to nearly £2bn
Crystal Specialist Finance has revealed a big leap in issued terms as it continues to grow quickly.
The finance business increased issued terms by 81%, to £1.95bn, boosted by its most-successful quarter in the final three months of 2016.
The Tamworth-based group, which works with lenders to provide bridging, commercial, development funding, second charge loans and specialist mortgages, also saw the average completed application value rose by 21%.
Jo Breeden, managing director of Crystal Specialist Finance, said: “In 2015 I challenged the team to hit £1bn in terms issued, which they duly did, so to end 2016 just short of £2bn is nothing short of exceptional. To compound this achievement with huge increases in completions and the average application value paints a very positive picture.
“When you consider the uncertainty surrounding the finance market in 2016 with the well publicised regulation changes and the EU Referendum result, we have not only defied the odds but done so with the correct levels of personal and IT infrastructure investment to ensure solid foundations moving forward.
“I have no doubt that 2017 will continue to be challenging, but we enter the year having established ourselves as one of the biggest specialist distributors in the UK.”
Case highlights include securing a £3.6m bridging loan with Together in just ten working days, a £590,000 regulated loan with Borro in three days and “the perfect bridge” with LendInvest to ensure continued work on an investment property which was on the verge of stalling.