The announcement comes after news that directors Nigel Alexander and Matthew Anderson will leave Fincorp to join Amicus at the end of the year.
Ronnie Natas, founding director of Fincorp, said he was sorry to see the pair go after more than a decade working together but that he wished them the best of luck for the future.
Natas said: “While this is an ending of sorts for Fincorp I am pleased to say it’s also the beginning of a new phase for us. We have significant funding and are very much in business – we’re also close to announcing our new sales director who will work with our business development manager Gary Playle to help serve brokers looking for bridging finance fast.”
Natas added that the lender had agreed several funding lines and was taking a new approach in 2016 with a focus on choice for brokers. Earlier this year Fincorp introduced a new product available with fees to sit alongside its traditional no fee deals.
Both lines are available on heavy or light refurb projects, auction finance and purchase and minor development facilities.
Natas added: “Offering brokers the chance to choose a fee or no fee deal makes sense – it’s the approach offered in the mainstream market and can make a big difference to the cost of the loan depending on its length.
“We have always prided ourselves on our clear and simple approach to pricing and that’s not about to change – we just want to add flexibility into the equation for our intermediary partners.”
Fincorp has been offering bridging finance to property developers and professionals for the past 26 years.
Natas said: “Throughout that time we have remained reliable and firm in our funding promises and that is not about to change. We value our relationships with brokers highly and want to reassure them that it’s business as usual at Fincorp.”