Cheval has announced that it will be entering the auction market through a key partnership agreement with The Place4Mortgages brokerage.
The new partnership allows bridging lender Cheval to substantially increase its presence within the auction arena.
Finance Director at Cheval, Gavin Diamond, said: “We are delighted to announce this partnership and look forward to a long and successful relationship.
“It will mean that Cheval can be there, directly in the auction room – something that very few finance providers can boast.”
The Place4Mortgages brokerage firm, which is based in Hampshire, has an ‘in the room’ presence with Fox and Sons’ South Coast Auctions, an auction company with around 70 offices along the South Coast of England.
Place4Mortgages has been active in auction finance for more than 20 years.
Rupa Basi said: “We are excited about our relationship with Cheval. We pride ourselves on having the highest levels of integrity and customer service. Cheval is the perfect fit for a business of our calibre.”
“The latest statistics from property auctions held across the UK show that the auction market has grown in size year-on-year, leaving Cheval best-placed to provide an effective funding solution to savvy investors,” Mr Diamond added.
Russell Parker, Fox & Sons Auctions Partner, commented on the joint venture."I am pleased to see the flourishing partnership between Cheval & The Place4Mortgages in the Southampton area.
“The market is showing a clear need for quality short term funding, especially in a time when mainstream bank funding is so restrictive.”
Mr Parker added: “Both companies have good reputations in the industry and we are pleased to see that a forward thinking company like Cheval have partnered up with a specialised partner such as The Place4Mortgages.
“We hope our clients can see the benefits in the attractive and flexible product being offered."
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