Bridging Finance Solutions has reported a rise in over 50% in turnover at the end of its financial year, with similar levels of growth anticipated for the year ahead.
The Wirral based bridging finance provider did not disclose actual turnover figures.
Steve Barber (pictured), managing director of Bridging Finance Solutions, said: “This is fantastic news for us. We made huge strides during the past 12 months to take the business to the next level. We took on new members of the business development team as well as a head of underwriting, which of course helped boost resources. We also invested in a new internal IT system that has helped us streamline our processes, ensuring applications are managed as quickly as possible to ensure excellent service levels.”
A more buoyant property market and increased confidence in the bridging sector as a viable short term alternative to funding has also been cited as a key factor in the growth.
Barber added: “We are partnering more and more with high street lenders as a way of unlocking funds, ensuring deals are completed in the time available. Our work with banks, solicitors, brokers and accountants is increasing every day as they become more aware of the various ways bridging can be used and how and where to use it.
“We expect to see more growth for the next 12 months and are anticipating an approximate 40% increase. We are also expanding our business development and back office team again in 2016. Whilst many of our customers are repeat business, we’re pleased to see a more varied customer base coming to us both in terms of geography and profile. We look forward to developing further with more growth, recruiting and expanding our operation from our head office in Merseyside.”
