Crystal reports record quarter and half year results
From January to June, the company has reported large increases across the all key indicators with completions rising by 32%, applications by 27% and enquiries by 26%.
The numbers have been achieved following yet another record quarter in the company’s 36-year history, between April to June the company issued terms on over £268.5m worth of business.
The Tamworth-based, independent packager previously operated under the name Crystal Mortgages but rebranded in April, creating five core divisions: mortgages, bridging, commercial, development funding and second charges.
Deal highlights included an 80% loan-to-purchase bridging loan for a £2.3m industrial unit, a four day turnaround bridging loan purchase and the undercutting of a leading market leading bridging loan rate to complete a £1m loan.
Joe Breeden, managing director of Crystal Specialist Finance, said: “Our aim in 2015 was to increase the £664.3m worth of business we issued last year, and all key indicators, by circa 10%. These figures have now been recalculated based on our extraordinary performance to date.
“The rebrand has been more successful than we could have hoped, brokers now fully understand our ability to secure highly specialist deals as well as secure the best options on standard applications. The numbers are up across mortgages, bridging, commercial, development funding and second charges, bar none.
“With the investment in the new office and our commitment to employ 20 people over the next 12 months – of which five key appointments will be made over the next quarter – we are in the strongest possible position to maintain our growth trajectory.”
Crystal Specialist Finance operates in England, Scotland and Wales. The company has access to a complete range of commercial products from over 30 lenders, plus its own exclusive funding lines.