Bridging lender Hope Capital is boosting its presence in London and the south with the appointment of its latest business development manager, Maria Magnussen.
She has worked in financial services for over 20 years and joins from a role as business development director at Borro. She first joined the industry back in 1995 when she became a mortgage broker at John Charcol. More recently, Magnussen was a director at SPF Private Clients and a business development manager at Dragonfly.
In her new position at Hope Capital, Magnussen will be working towards developing new business in London and the south.
The privately run and funded bridging firm is aiming to double its loan book and grow staff numbers by 50% by the end of the year.
Hope Capital, which has an initial tranche of £50m worth of funds for London and the south, will lend on residential and commercial properties with non-regulated loans of up to £5m for a maximum of 12 months.
Jonathan Sealey (pictured), CEO of Hope Capital, said: “We are looking to double our loan book this year and to do that most effectively we decided that we needed an experienced presence in the south to achieve this. Having worked as a broker in the specialist broking market herself, Maria understands the requirements, frustrations and expectations of brokers. I am therefore confident that she will add real value to our brokers and introducers by ensuring they receive a totally dedicated service.
“Maria also brings with her many connections and long standing relationships within the industry which will help in terms of expanding broker contacts. She also knows how important service is in the short term lending market, all of which makes her a very welcome addition to the Hope Capital team.”
Magnussen added: “Having previously worked as a mortgage broker, I know what makes a good BDM and what doesn’t. It is about having the ability to interact with clients and showing them that you understand their situation.
“The market had a rollercoaster year in 2016, and it is likely that we will continue to experience change throughout 2017. However, although the bridging price war continues to rumble on, with many LTVs going up and lenders becoming more pedantic, the market is continuing to show resilience.
“Unlike many other lenders who are unable to perform well enough in the timeframes that are sometimes required, Hope Capital has some great products and is keen and able to lend quickly as it is privately funded. Therefore, now seems the perfect time for Hope Capital to increase its presence and dedicated support in London and the south.”