BLSMEXPO 2014: Scottish B2L market vibrant
Speaking at the Blimey Loans Mortgage and Finance Expo Scotland Riches added that Keystone had found the Scottish market to be a strong and that it had made major inroads into the market since its launch last year.
He said: “Since we moved into Scotland we have found the market to be vibrant. The market is there and we’ve found that there are lots of customers looking to refinance their entire portfolio.”
But Riches was concerned that brokers weren’t aware of how to place such deals with mainstream players reducing lending.
Riches said: “At the moment the likes of RBS aren’t lending and Clydesdale Bank are pulling out of the market.
“What a lot of brokers don’t seem to know is that there are a lot of specialist lenders that are looking to lend money in Scotland.
“90% of these deals could be completed through specialist lenders.”