Bridgingloans.com announces extension of credit lines from its lending panel of top UK banks

Bridgingloans.com announces extension of credit lines from its lending panel of top UK banks



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-Highlights growth potential of the UK Bridging loans sector
 

-Supports Bridgingloans.com's increasing presence in short-term finance market

Bridgingloans.com, a leading UK provider of bridging finance solutions, has announced an extension to its lines of credit from some of the UK's leading banks and financial institutions. These additional funds will help Bridgingloans.com deal with the 50 per cent increase in enquiries it has received for its short-term finance during Q2. All credit line extensions are from existing relationships with UK banks and are further testament to the growth potential of the bridging loans sector.

The current market conditions have seen an increase in the number of opportunities for property investors who have the cash available for immediate purchases. Roughly 60 per cent of bridges on Bridgingloans.com's books are currently property investors looking for funding to increase their portfolio. The rapid availability of bridging loans enables borrowers to capitalise on a bargain and purchase a property quickly. Bridgingloans.com's transparent and robust lending criteria and underwriting processes enable it to deal with these types of loan requests swiftly and effectively. This funding extension will further enhance these requests.

Ryneveld van der Horst, Finance Director, Bridgingloans.com: "Backing from other lenders is extremely important in tight credit conditions and to maintain business growth. It also builds partnerships with the people you rely on most. When many banks and building societies are closing the doors on further lending to both companies and individuals, it is a true testament to our rigorous processes that they have chosen to extend our credit lines.

"We have been working with the banks in question for many years and are delighted that they recognise the long-term potential of this sector," Ryneveld van der Horst continued. "I've been delighted that our relationship with funding banks has remained comfortable, and the reason for this is the openness of our bridging process - from individual business plans to balance sheets. In the current financial climate it is vital for the industry as a whole to implement transparent processes - from funding banks to lenders and brokers."

 

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