Bridging Finance Solutions reports demand upsurge
The Wirral-based firm are reporting an average enquiry level of £1m transactions each week from borrowers looking to quickly secure funding.
According to Steve Barber, managing director of Bridging Finance Solutions, most enquiries have come from the North West and most notably Merseyside, despite customers usually spanning the UK.
He said: “Demand is incredibly high at the moment – in fact, we’ve not seen this level of demand since pre-recession times.
“We are more than happy to do business with local customers who are able to realise higher rental returns on their properties compared with property investors in the South.
“Both residential investor, private developers and commercial clients make up the new wave of Bridging Finance Solutions customers.
“Investors are able to realise good returns on properties in the North where rental incomes alone often provide for double digit returns, this is rarely the case in the South and South East where property capital values make this more difficult to achieve.”
Bridging Finance Solutions has recruited a new business devolvement manger to help deal with the upsurge in demand.
Barber added: “Whilst lending in a declining market has always been fairly steady, as securing finds via traditional routes will typically be more challenging, new and recent customers are general looking to make deals quickly and secure a property within days rather than weeks.
“We are seeing little sign of this slowing down and anticipate further growth as the market continues to show positive signs of recovery.”