Capital Bridging Finance has obtained authorisation from the Financial Conduct Authority (FCA) to accept and administer regulated bridging loan applications.
Keith Aldridge (pictured), managing director of Capital Bridging Finance, said: “Our long term growth plans have always included an appetite to provide regulated bridging loans to our growing number of premier partners. Over the past two years we have been in constant communication with our partners and I am delighted to say that their contribution to our application for permissions helped us to secure regulated status from 1st August, 2014.
“Since then we have been ensuring our processes are robust enough to guarantee this new area of business will provide an attractive and positive experience to our premier partners and clients alike.
“Our growth in the last two years has seen us focus on recruiting high quality underwriters, experienced in regulated and unregulated short term lending and having piloted an £870k regulated loan last month we are ready to capitalise on what we know is a growing market, if you have the right underwriters and the right partners to capitalise on the opportunity.
“We believe being regulated will reinforce our growing reputation as a quality lender who has the needs of the client at the core of its proposition and one who has a forward thinking philosophy that can only benefit our growing number of distribution partners. Achieving this will ensure that our established funding lines will be in place for many years to come.”
Benson Hersch CEO of the ASTL, added: “Capital Bridging Finance is a valued member of the ASTL and subscribes to its Code of Conduct and Value Statement, which put responsible lending as a core objective. We welcome their entry into the regulated mortgage market.”