Crystal issues almost £2bn of terms in 2016

Crystal issues almost £2bn of terms in 2016




Distributor Crystal Specialist Finance (CSF) has reported its most successful quarter ever.

The firm issued terms of £532.2m in the fourth quarter of 2016, marking an 81% rise year-on-year and bringing its annual total to more than £1.9bn.

Completed business and enquiries also rose by 35% and 54% respectively over the same period.

Jo Breeden, managing director of CSF, said: “In 2015, I challenged the team to hit £1bn in terms issued, which they duly did, so to end 2016 just short of £2bn is nothing short of exceptional.

“To compound this achievement with huge increases in completions and the average application value paints a very positive picture.

“When you consider the uncertainty surrounding the finance market in 2016 with the well-publicised regulation changes and the EU referendum result, we have not only defied the odds, but done so with the correct levels of personal and IT infrastructure investment to ensure solid foundations moving forward.”

In addition to these records, Crystal’s average completed application value rose by 21%.

The firm issued terms with 70 lenders and completed deals with 42, including both high street and challenger banks.

Among the deals was a £3.6m bridging loan with Together and a £590,000 regulated loan with Borro, which was completed in just three working days.

Jo added: “I have no doubt that 2017 will continue to be challenging, but we enter the year having established ourselves as one of the biggest specialist distributors in the UK and we will continue to expand our boundaries based on the excellent service for which we are becoming synonymous.”

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