The specialist division of high-net-worth broker SPF Private Clients expressed satisfaction following its first quarter in business.

In the first three months since its launch, SPF Short Term Finance has completed over 24 cases, while a further 40 apps are in the process of being underwritten.

The firms has also had over 150 registrations from intermediaries.

SPF Short Term Finance offers difficult-to-place bridging, renovation, development and auction finance to intermediaries.

“We have been encouraged by the interest we have seen in the short time we have been offering our services,” said Andre Bartlett, associate director of SPF Short Term Finance.

“There is no shortage of demand for finance within these niche areas, merely constrained supply.

“We have been surprised by the diverse nature of the transactions we have been asked to assist with – from standard regulated bridging, multiple-unit student accommodation, hotel finance and self-build to single-unit development finance.”

He added: “We look forward to building on our early success with further product innovation, some great exclusive rates, and access to additional services to assist advisers source solutions for their clients.”