Positive Lending has reported a major increase in its bridging business, beating its previous best month’s bridging completions by 40%.
The Bournemouth-based specialist packager attributes its record growth in bridging business to strong customer demand, a dedicated intermediary marketing campaign and particularly strong product range from its lender panel, including a number of exclusives.
Paul McGonigle, Positive’s managing director, said: “October 2015 was our strongest month for bridging loans on record. We completed 40% more bridging loans than any other month – we also completed more loans with Precise Mortgages than ever before.
“There are a number of factors that have driven this super surge in transactions; a significant factor is that our bridging lender panel have provided us with a fantastic range of products, some with free valuations, which are proving to be very attractive to intermediaries and their clients.
“To promote the wide range of bridging loan solutions available, we ran a multi-media bridging loan marketing campaign via emails, press and online advertising, social media and, most importantly, through face-to-face meetings with intermediaries. Our national fleet of BDMs made over 200 appointments, providing product training and in-office support – feedback from intermediaries has been overwhelmingly positive and this translates into the business levels we have achieved.”
McGonigle added: “October has been a great month but, at Positive, we never rest on our laurels. We have just recruited three more CeMAP qualified associates who join the New Business team in November and, following the success of our 360 secured loan sourcing system, we are soon to launch our 360 bridging loan sourcing system. Once launched, the new sourcing system will provide intermediaries with a selection of our panel of lenders’ bridging loans and instant, tailored, compliant quotes for their customers.
“With competitive rates, exclusive products and a market-leading sourcing system, we fully intend to provide the very best service for intermediaries seeking bridging loans. Roll on November!”