Capital Bridging Finance has welcomed Masthaven’s move into Scotland.
Following Cheval departure’s from the sector Keith Aldridge, principal at Capital Bridging Finance is delighted Masthaven is seeking to fill the gap in the Scottish market.
In 2012 Scotland accounted for 11% of the short term bridging lenders business and their plans are for that to double in 2013.
Aldridge said: “Some people may say it is strange to compliment the competition on entering a market that you had a strong presence in but in this case I think it is good news for Capital Bridging Finance.
“We lend in all the major conurbations in Scotland but have felt for some time that the potential was not being realised by brokers and so the more quality lenders that highlight the potential and are prepared to educate the broker market then that has to be good for the sector.
“Don’t get me wrong, I do not want the market flooded but competition and choice has to be good and we see the incursion of Masthaven as very positive as we turn up the heat on our plans for Scotland. North of the border we have found the level of professional competence amongst our solicitor and valuation partners to be outstanding and are very excited about our plans for the region in 2013.”