Crystal Mortgages beats 2012 figures

Nia Williams

October 25, 2013

Between July to September terms were issued on £160.4m worth of applications marking a 166% increase on the same period last year, with completion numbers up 42% across 10 different lenders.

Deal highlights include a £20m development loan in Woolwich, a £3.75m leveraged management buyout completed in just one week, and a commercial term loan completion on a HMO in Oxford which took just 29 days to drawdown.

The smallest deal was a £10k further advance on a retail unit in Croydon.

Joe Breeden, director at Crystal Mortgages, said: “This is, by a serious margin, the most successful quarter in the company’s 35-year history. To be ahead of last year’s figures is an achievement in itself, but to be £41m ahead with three months to go is exceptional.

“Both terms issued and completions show not only a return to confidence in the market, but that applicants are still being rebuffed by their own high street banks unless they are deemed to be the perfect candidate.

“In this business every application is considered on merit, and the negligible number of defaults on our completed business is a testament to our experience, quality of packaging and in-house decision making abilities.”

Crystal Mortgages is an independent commercial mortgage, bridging and development specialist which operates in England, Scotland and Wales.

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