Keith Aldridge, managing director of Capital Bridging, said: “We are delighted that over the last 18 months we have been able to show a major financial institution that Capital Bridging is an excellent choice of partner when it comes to distribution of their funding.
“This increased funding is testimony to our staff, our business partners and most importantly to Capital Bridging’s ability to lend in a prudent and ethical way in an increasingly vibrant market.”
In the last 12 months Capital Bridging has increased its distribution and established partnerships with brokers and master brokers in England Wales and Scotland.
Aldridge added: “We will soon be offering a regulated product and I believe that we have a comprehensive range of solutions for most brokers’ short term and bridging requirements.
“We now have a variety of funding lines established that allow us to lend up to £5m over 18 months and up to 75% LTV when the proposition fits and with our reputation for working with all stakeholders to ensure exits are completed on time we have every reason to believe the next 12 months will be good for the sector and Capital Bridging in particular.”
Simon Juniper, director of Only Bridging, said “This is good news for brokers who have seen Capital Bridging establish themselves as a major player in the sector and the confidence the high street bank has in them can only give them and the sector confidence for the future.
“Capital Bridging has a reputation for being one of the most flexible lenders, working closely with its broker partners to find solutions to client’s needs and I can only see this enhancement of its funding line adding to that reputation.”