Short-term bridging lender Fincorp plans to hire a new sales director to start in January 2016.
The announcement comes after news that directors Nigel Alexander and Matthew Anderson will leave Fincorp 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.
He 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 existing team to help serve brokers looking for reliable bridging finance.”
Natas said that the lender would be 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 residential, heavy or light refurb projects, auction finance 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. We value our relationships with brokers highly and can reassure them that it’s definitely business as usual at Fincorp.”