Your Expert Group completed on £2.5m of loan finance during August, despite not having fully launched yet.
The Glasgow-based specialist finance provider said the £2.5m was spread across multiple loans in different sub-sectors, including £1.6m of bridging finance, £500,000 in second charges and £400,000 of complex mortgages.
The broker works with clients nationwide but is targeting the increase in specialist finance enquiries in the North of England and Scotland — specifically bridging and development finance-related — as investors shift their focus from the South East in search of margin.
Nathan Ellis-Calcott, director of specialist lending at Your Expert Group, said: “We were targeting a bumper autumn but in the event August was the month the momentum really started to grow. We are still a brand new company but it’s heartening to see the enquiries we are getting from brokers and other introducers, both in Scotland and more widely, turn so quickly into completed deals.
“We wanted proof of concept and we got it far sooner than we’d hoped for.”
Derek McPhail, co-founder of Your Expert Group, added: “As a group, we have big plans for specialist finance in Scotland and the North of England. Relative to the South, and particularly the South East, specialist finance is an untapped niche but it’s one we intend to introduce to brokers at scale.
“We only soft-launched in June, so to deliver such a strong August has given everyone here a huge boost. It’s a dream start.”