Bridging Finance Solutions Group is now lending in Scotland.
The company has been providing short term residential property finance throughout England and Wales for seven years and has now moved north of the border.
Loans, both regulated and non-regulated, are available from £25,000 to £1 million. Bridging Finance Solutions calculate interest daily, doesn’t charge exit fees and loans are made against open market value.
Steve Barber, managing director of the Bridging Finance Solutions Group, said: “We’re delighted to be extending our service into Scotland at a time when the housing market north of the border is starting to show signs of renewed confidence. Being based in the North, the expansion is a natural progression in support of our introducers, partners and clients.
“We are able to offer both regulated and non-regulated products to brokers with clients requiring fast purchase finance, auction finance, refurbishment finance and classic ‘chain break’ funding.”
He added: “All our loans are secured by way of 1st charge on residential property, and we will initially be concentrating on the larger city hubs, with bespoke underwriting on a case by case basis.”
BFS are supported by their legal partners in Scotland, Morton Fraser LLP.
Fergus McDiarmid, partner of the firm, said: “Morton Fraser is delighted to be partnering Bridging Finance Solutions and to have been involved in advising on their funding arrangements as their business expands not only commercially but geographically into Scotland. A dynamic and exciting business they have a very strong track record of success in England and Wales and we are certain that this will be replicated in Scotland as the property market picks up.”