Drawbridge Finance claims it has passed the £50 million mark on its medium-term loan book after nine months’ lending.
It classes medium-term loans as essentially bridging loans of two to three years and says they are increasingly used by portfolio landlords and professional investors when they fail to meet the automated credit scoring requirements of a high street lender.
Jonathan Samuels, CEO, Drawbridge Finance, said: “The growth in our medium-term loan book reflects the difficulties many prospective borrowers are having securing finance at traditional lenders. The black and white criteria of the high street banks are creating a buoyant new loan market and one that we believe has considerably potential in the years ahead. Loans of two to three years can be the perfect solution when an application falls just outside the tramlines of a mainstream bank and is rejected
