Clever Lending is offering in-house advice to brokers on regulated bridging following increased demand which has seen its funding almost treble in this area over the past year.
The specialist packager and distributor’s success in this sector has driven Clever Lending to appoint an expert team to give direct regulated bridging advice to brokers, and is one of only very few brokers to provide such a service.
Sam Kirtikar, managing director at Clever Lending, said: “During the first half of 2018 Clever Lending increased funding on regulated bridging by 295% compared to the same period in 2017.
“As awareness of the advantages provided by bridging finance has grown so much in recent years, it’s a natural progression that house buyers are seeing the upside of using this form of short term funding too.
“We’ve offered regulated bridging advice for a while now, but previously all leads were passed to a separate mortgage team. However, with new staff and a new team in place, we can now offer our brokers a much more efficient service in-house as they can discuss their case straightaway with qualified specialists at hand.
“With our lender partners having numerous products available and bridging rates remaining low in the market, there are plenty of opportunities for brokers to offer a regulated bridging option to their clients to quickly fund an initial property purchase.”
Regulated bridging can be used by a wide range of customers to purchase a property they intend to live in, whether that’s to downsize, build their own house or are buying at a property auction.
As these loans can still be provided quickly, it could be the difference between the customer getting the house they want or losing out on a one-off opportunity.