Truffle Specialist Finance has revealed that 2023 was a record year for its bridging finance operation.
The specialist finance firm rebranded from Pink Pig Loans in March 2022, while Luke Egan was appointed as bridging and development director in the previous year, as the Cardiff-based firm looked to increase its presence in the bridging loan market.
Its strategy has proved to be a success, with Truffle Specialist Finance reporting an almost 200% increase in the amount of bridging business written and number of completed cases.
James Rainbird, managing director of Truffle Specialist Finance, said: “Our bridging business is going from strength to strength and the team, under Luke’s stewardship, deserve all the plaudits. They have all been working extremely hard to ensure that brokers recognse Truffle Specialist Finance as the firm which can successfully place their bridging cases, regardless of the complexity. We are taking on new brokers every day and last year completed deals with over 40 different firms alone.
“We have great relationships with the leading bridging lenders, including United Trust Bank, Precise Mortgages and MT Finance. Being awarded Gold panel member status by Together is a testament to our abilities – are far as I am aware we are comfortably the smallest broker to be awarded that status. This hlighlights how we achieve more with less, focusing on quality not quantity. Gold status means we can benefit from lower rates, as well as access to key decision makers for a smoother process.”
Marc Goldberg, CEO of sales and distribution at Together, added: “We’re delighted, but not surprised, to hear the news that Truffle Specialist Finance has had a record year for bridging finance.
“Having worked alongside their team for many years, we’ve experienced first-hand the knowledge, experience and dedication to achieving the best customer outcomes, focusing on good exit strategies and excellent service every time. Bridging finance is an area of the market in which we operate extensively, and its popularity as a means of fast, flexible finance is growing year on year.
“We look forward to continuing to build on our fruitful relationship with Truffle, and expect to see more record-breaking announcements from them in the future.”
Sundeep Patel, director of bridging at United Trust Bank, said: “UTB have a long-standing relationship with Truffle for specialist lending and it has been a pleasure to support their enhancement into the bridging market. Combining Luke Egan’s industry knowledge with our flexible approach to lending and accessible team, has led to excellent outcomes for our mutual clients.”