BFS launches development product for sub-£1m loan market
Bridging Finance Solutions offer short-term lending support to the smaller developer, launching a product catering for loans at a value of sub-£1m.
The new development product involves planning, professional teams and warranties, is quick to use and caters to this growing market.
John Hardman, head of sales at Bridging Finance Solutions, said: “The sub £1m property development market has been routinely forgotten by the high street banks since 2010, as they seek to redress their balance sheets with ‘short cut’ big ticket deals of £5m and beyond, and in its wake has been left a plethora of opportunity for both inexperienced and time served property developers.
“This market has increased steadily and is currently accounting for a growing share of our loan book year on year.”
“This really isn’t an off the shelf product but will be bespoke to each individual according to their needs. BFS have a demonstrable track record in creating unique funding solutions and this is reflected in the number of repeat clients we have and I believe with this new product, were set to attract and welcome many more.”