Bridging Finance Solutions, the bridging loan company of choice in the North, has revealed a 25% increase in turnover compared to the same period last year, a move led by a growing northern-centric customer base.
We operate throughout the UK but with our northern roots and a strong understanding of the regional property market, BFS has naturally steered in the direction of the North West, Leeds, Midlands and North Wales.
Steve Barber, Managing Director of Bridging Finance Solutions explained: “As we know, the north-south property divide dictates a fairly sizable price differentiator that sees far higher property values in the South."
"Some lenders are less keen to offer fast bridging loans for smaller sums, targeting the higher value deals but this isn’t the case for BFS. We’re happy to work with the smaller builder, developer, investor on smaller tickets items where high street lending has been hard to secure – a demand which is naturally coming from a northern market.”
Many towns and cities throughout the north have been recognised as areas where competitive property prices can be secured coupled with high yields.
Steve continued: “The northern property market is incredibly exciting at the moment and there is a lot of movement and opportunity. We've worked hard to develop and implement processes that mean we can apply the same levels of service to a client regardless of project value which has really opened up our customer base, particularly in the North.”
According to the Office for National Statistics, house prices in the North West rose the fastest in the UK compared with one year ago whilst annual growth in property values in the region stood at 5.6% by July.
Steve commented: “Movement in the North West property market typifies a trend that we are seeing across the north. As a northern lender, we understand this area of the market and work in both an advisory and lending capacity to ensure our customers benefit from a product that’s right for them. These factors combined mean that more and more professional looking to bridge are choosing BFS.”