Lancashire Mortgage Corporation celebrates 25th anniversary

Lancashire Mortgage Corporation celebrates 25th anniversary


We are pleased to announce that Lancashire Mortgage Corporation has achieved a significant milestone as it celebrates its 25th anniversary of successful trading.

As the corporation has grown, they have developed into one of the longest established and most experienced commercial lenders in the industry, continuing to lend through three major recessions and have grown their lending book despite a challenging economy.

They have also officially launched a new auction product with revised criteria to offer brokers increased opportunities and speed up the broker processing time.

The changes aim to simplify plan selection and provide more guidance for approving commercial lending without referral. This will increase the speed of applications and the increase the potential customer base for brokers.

As part of the new plans, they have launched a new ‘pre-approved auction purchase product’, meaning customers can bid with peace of mind. It also includes an auction purchase valuation bypass meaning no valuation is needed for properties less than £150k. The process for approval will be that much quicker and accessible to a wider range of customers.

Gary Bailey, director at Lancashire Mortgage Corporation, said:

“It is important to us that we provide comprehensive solutions to suit all borrowing needs. Working closely with our brokers, we endeavour to deliver simple, effective finance solutions to suit the needs of intermediaries and their clients on an on-going basis.

“In response to broker feedback, we’ve revised commercial term loan and bridging finance plans to simplify selection and provide greater guidance for acceptability. In addition, Lancashire Mortgage Corporation has taken this opportunity to launch new products that further extend the portfolio of broker’s offerings. The ‘Pre-approved Auction Purchase’ plan provides the broker with a pre-agreed level of funding against a particular property for their customer, this allows the customer bid with confidence at the Auction knowing that the funding is in place on the pre-agreed terms. The Auction markets are particularly active with Buy to Let purchases being dominant, so this new plan is ideal for property investors who require reassurance that the funds are in place. This is a service Lancashire Mortgage Corporation has provided for some 20 years, but we feel the time and demand is right for both brokers and consumers to have countrywide access to this service.”

Lancashire Mortgage Corporation was established for the purpose of providing brokers with a whole range of commercial finance, term loans and bridging finance as an alternative to high street banks.

Corporate clients are also important to the company and many partnerships have been forged over the years for them to provide development finance, business finance and funding for land.

Gary Bailey said of the Corporation hitting their 25th Anniversary: “We are delighted to be celebrating such a significant business milestone.

"We have been supporting brokers and clients by providing commercial and bridging finance for over 25 years. We are proud to say that over those years we have continued to offer a wide range of innovative products and have continued to lend even through the toughest of times and are still offering speed, flexibility and service.

"I would like to thank all our brokers and staff for the dedication and commitment they have given to Lancashire Mortgage Corporation over the last 25 years.

“Innovation has been at the heart of our business, to ensure we suit the modern needs of brokers and their customers.

“Our products have always demonstrated this approach, allowing us to provide effective commercial lending solutions year after year, and continuing long into the future.”

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