spring finance

Spring Finance opens bridging range to all brokers

Spring Finance has today (20th June) rolled out its bridging proposition to the wider market following a three-month pilot with a select group of brokers.

The specialist lender is now offering the whole of market a range of loans — from £50,000 to £2m — to support brokers and customers.

The product suite includes regulated, unregulated, first and second charge, complex credit, heavy refurbishment (with drawdowns) and light development loans.

According to Spring, the feedback on its offering, processes and service since the soft launch started on 29th March has been “invaluable”.

To coincide with the announcement, the finance provider has refreshed its website and logo in a bid to reinforce its evolution, while still retaining its heritage.

“Spring has seen a clear gap in the bridging market for a lender that has the experience and expertise to make transparent and robust lending decisions,” said Jim Baker, sales director of bridging (pictured above, far right).

“This, combined with Spring’s common-sense underwriting and efficient processing, even on complex cases, means financial intermediaries and their customers can rely on us to deliver the service we have promised.

“Feedback from our pilot reaffirms that intermediaries want a trusted partner to support their business, and I am delighted we are now bringing our offering to the wider market.”

Spring has over 60 years of combined experience and recently snapped up Gavin Diamond as CEO, who will be joining the business in July.

Since Andrew Bloom, owner of Spring, bought the majority stake in the specialist second-charge lender and made a seven-figure equity investment in the business, he has recruited numerous people he had previously worked with at Masthaven Bank, including Jim, Claire Newman, Ginny Warby and Louise Young.

Other senior hires are expected to be announced in the coming months.

Claire, head of bridging (pictured above, second from left), commented that one of the core elements of the new proposition was the personal approach to each loan and the commitment to provide a high level of service.

“The whole team takes real pride in a job well done and this will continue through this launch and as we look to enhance our product range over the coming months.”

More details on how the soft launch was received by brokers can be expected in the next issue of the Bridging & Commercial Magazine, out this week.

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