Bridging Finance Solutions (BFS) has been appointed to the loan panel of the national brokerage, Private Finance.
The short-term lender will join a small number of donors to offer bridging and development finance loans.
Shaun Church of Private Finance explained, “At Private Finance, we select the lenders we work with and strive to handpick them to ensure our clients are well served. We had an existing relationship with Steve Allen who recently joined BFS and we really like the way BFS works and the ability to speak to decision makers quickly and effectively on behalf of our clients.
“Steve Allen is an excellent BDM and he pointed out the interesting loan proposition offered by BFS, which we will find useful for our clients. We believe this will mark the start of a very strong and mutually beneficial relationship that will ultimately strengthen the product offering to our customers.
“We continue to see a significant increase in the number of bridging and development loans that we organize. We believe this is due to the high levels of demand in the market caused by the pandemic and the SDLT holidays, which means customers want to act extremely quickly, looking for alternative solutions to make this possible. In addition, the low interest rate environment and low returns offered to savers mean that we see our clients looking to be more active with their funds. Now that clients have seen the benefits of this type of financing, we believe this will be an area of growth. “
Steve Allen of BFS added: “I am really delighted to see BFS be part of the Private Finance panel. It is a large brokerage covering the entire market that has successfully traded billions of pounds in mortgages. BFS is a regulated lender that offers self-build and development projects as well as applicants with credit problems.
“This partnership marks an important milestone in the continued growth and expansion of BFS and we look forward to working closely with them in the months and years to come. “