This authorisation marks a key moment for the specialist distributor as it works towards expansion into other market sectors.
First 4 Bridging was previously authorised for some non-mainstream regulated activities, including bridging loans, development loans and commercial term mortgages.
While these offerings will remain focal points for the distributor, the new regulatory status will allow it to also undertake fully regulated activities, such as secured loans, residential mortgages, buy-to-let and raising funds for debt consolidation.
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Steve Swyny, head of sales at First 4 Bridging (pictured above), said: “Being fully regulated has always been a goal for First 4 Bridging.
“However, in order to achieve this, we had to ensure that we were in the right place as a business to not only tread this complex authorisation path, but that we also had the infrastructure in place to build on this and venture into other key areas of specialist finance.
“Our core business will continue to revolve around bridging and development finance but, with more borrowers looking for alternative ways to raise funds for their property-related transactions, we are now in a position to provide a wider range of options for our introducers to help them grow their business and bolster retention levels.”
1 Comments
Magnus Duke Dadzie
Well done to all at First 4 Bridging