Signature Private Finance has reported that April 2018 was one of its busiest months, with loans totalling £6.1m drawn down during the month.
The short-term property finance provider said deals varied significantly in size and complexity, ranging from £160,000 to £2.3m.
Tony Gilbertson (pictured), Signature’s CEO, said: “Our low rates, high LTVs, quick decision process and unrivalled service levels are attracting attention in a crowded market place.
“Although not traditionally our busiest month, thanks to the efforts of our BDMs, not only are we receiving more deals to consider, but increasing the number we take through to a successful completion.
“It is gratifying to attract new clients looking for our particular brand of short-term property finance, but whilst we work hard to ensure there is a greater awareness of our strengths in the market, it is returning clients that help convince us we are pursuing the right strategy.
“We base our approach on personal service and the strength of the relationships we build with brokers and clients alike. We are not necessarily the biggest bridging lender, but our low rates and high LTV, combined with our easy to do business approach makes our offering irresistible; apparently.
“Putting all our efforts into considering only the deals we can support and making the process as simple as possible for clients, with no hidden extras, is delivering results as this month’s figures reveal. Transparency at every step of the loan process is key to delivering the growth we predict this year.”
Gilbertson said there has been a definite shift in the market in recent months, with more of its short-term property finance being used for major refurbishment projects.
He said: “It is clear that developers are seeking properties they can buy cheap and add real value to.
“Included in April’s figures was a major £450k refurbishment project being undertaken by an existing, long-term client.
“Given our pipeline contains many similar deals under consideration and awaiting valuations, I feel this is a trend we can expect to gain more traction in the coming months. Time and May’s results will tell.”