Holly Andrews, managing director of Keeping It Simple Bridging Loans, told Bridging & Commercial that her firm had completed four deals with the unnamed lender during November, totalling £5.9m.

The new business – which could launch in March – has already demonstrated fast completions and the ability to work within tight deadlines.

“As a bridging broker what has impressed us most is the common sense approach to lending,” Holly explained.

“The people behind the lender have considerable experience of acquiring properties, and consequently have... had to arrange many finance facilities for themselves.”

One loan was completed within 46 hours of receiving the application on a Monday morning.

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The funds would have been transferred as early as Tuesday night had the client not requested the lender to hold the funds until the following morning.

Another loan was provided to gain back control of a repossessed property, enabling the owner to smarten it up for sale and sell on his own terms.

Additional loans were secured both on land with outline planning permission and a property in London at 70% LTV.

In the latter instance, the borrower had sought funding from a different lender but switched to the new firm when the original’s valuation fell short at 65% LTV.

“They will be a lender who understands their customers’ requirements, and react accordingly,” Holly added.

“Another reason why myself and the rest of the team at Keeping It Simple Bridging Loans are excited about this lender’s launch next year.”