Black & White Bridging has surpassed £250m in total lending, marking a key milestone for the specialist lender as it continues to grow its presence in the short-term finance market.
The lender, which rebranded from Bath & West Finance in 2021, confirmed it has now lent £270m since launch, with £125m of that issued in the past 12 months. This recent performance was underpinned by a record first quarter in both volume and value of loans, setting the firm on course to meet its stated goal of writing £250m of new business in 2025.
A significant portion of this lending has supported the delivery and refurbishment of more than 1,300 UK homes, with residential and commercial bridging products forming the backbone of Black & White’s proposition. However, the lender noted that its product mix has diversified over time, with growing demand for its bespoke refurbishment bridge, development finance, and development exit products.
Damien Druce, chief operating officer, said: “A quarter of a billion is quite a milestone and hitting it is a huge boost for everyone at Black & White. It confirms we are on the right track with our vision for a truly transparent proposition with no grey areas, backed up by consistent service and fast lending decisions, giving our brokers and their borrowers the certainty of outcome they demand and deserve.”
He added: “I remember when we completed our 200th loan in September 2021; that felt like a big deal at the time. Since then, we have hired some industry characters including industry veterans Magnus Dadzie and Danny Power. We have opened two new regional offices in Manchester and London, to complement our original Bristol HQ, and we have secured two new funding lines.”
The firm recently completed its largest ever loan – an £8m facility to support the sales phase of the City Green development in Birmingham, led by Empire Global’s Pete Williams.
Black & White’s commercial bridge product, which covers semi-commercial, commercial and land-based lending, still accounts for around 20% of its total loan book. But it is the bespoke refurbishment bridge – designed to release capital without requiring a full development loan – that has gained particular traction, alongside development exit finance, which enables borrowers to refinance completed schemes in order to release equity for future projects.
Meanwhile, the firm’s auction bridge, which saw heightened activity in the run up to the recent stamp duty deadline, and its residential bridge products remain important but now form a smaller share of overall lending.
“Our bespoke auction product was particularly popular ahead of the stamp duty deadline,” said Druce. “But the bulk of our business, and our bread and butter, continues to be our residential bridge, whether it’s a vanilla or complex transaction. Whatever the project, our team and truly transparent products are designed to structure bespoke deals that have the borrowers’ best interest at heart. We have no upfront fees, nothing hidden, and since our latest product updates and additional funding, we believe our offering is market-leading – with no grey areas.”
