Another bridging lender welcomes FSA regulation

Another bridging lender welcomes FSA regulation




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After an initial application for Financial Services Authority regulation in April 2010 another short-term lender has now been FSA approved and is now in a position to offer bridging loans on owner-occupied property.

Mayfair Bridging, based in Manchester, are now FSA regulated and Director Shoaib Bux said: “This is a huge achievement and I am extremely pleased by the hard work put in by our staff to achieve regulation status. It has been a very long and difficult process but finally it has all paid off. We will be updating the website in the next few days with our regulated product and its lending criteria.’’

Director Yasin Patel added,’’ Introducers should engage in business with a regulated lender. There are many unregulated lenders out there with scrupulous business practices therefore brokers would be treating their customers fairly by advising on products from a regulated lender. We will still be offering unregulated deals but authorisation has increased our product portfolio as we can now help all types of borrowers.’’

This is surely another positive sign for all brokers and customers, as another lender is FSA regulated indicating that more lenders are improving their standards of transparency and fair treatment.

By Jason McGee-Abe

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