Jon Salisbury, Ortus Secured Finance

Ortus reports 300% surge in residential bridging enquiries

Ortus Secured Finance has received a rush of residential bridging loan enquiries during August.

The specialist lender — which continued to lend throughout the Covid-19 pandemic — revealed that enquiries for residential bridging loans in August were up 25% on July, and are 300% higher than the same month last year.

The cases have been a combination of marketing bridging, acquisition loans and refinances.

What is heading to be a record August for residential completions at Ortus could be attributed to its reduced pricing for residential bridging loans, along with the easing of lockdown and the recent stamp duty holiday announcement.

In addition, Ortus expects September to be “even better”, with over £50m of completions pending.

“Residential bridging has always been a key part of our offering,” commented Jon Salisbury, managing director at Ortus (pictured above).

“The residential market seems to be booming right now and this, combined with our reduced pricing, means it’s now a huge part of our book.  

“We are also staying true to our principles of providing an efficient and reliable service to brokers.”

As a result, Ortus — which has offices in London, Manchester, Belfast and Glasgow — expects to make further hires in the near future.

Over the past six months, Ortus has grown “significantly”, recruiting staff in its sales and credit functions.  

In July, the firm opened a new office in Glasgow and moved its Belfast office into a larger premises.

The principal lender will fund both residential and commercial bridging loans for introducers, providing loans from £100,000 to £25m, for terms of up to three years.

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