60% leap in just 6 months of business

60% leap in just 6 months of business


A leading bridging lender has just announced a giant 57 per cent leap in the value of its loan book since noting a 25 per cent increase in the number of AIPs issued over the last six months to the end of April.

Bridging lender, Cheval, has put its huge recent growth down to a combination of new products which have strengthened its key introducer relationships, as well as the excellent service it provides to clients. Cheval identifies these two areas as vital in expanding its share of an increasingly competitive market. 

Adding to this, a market report recently published by the Association of Bridging Professionals (AOBP) revealed that in the six months to February 2012, Cheval led the way each month in case volumes with an average market share of 13.8 per cent of all new short term loan completions by AOBP members. This is up from 4.6 per cent in the previous six months.

Commenting on Cheval’s recent boom period, Gavin Diamond, the lender’s Finance Director, said: “We are very proud of our recent achievements and are well ahead of the targets that we have set ourselves. The fact that we’ve been able to increase our market share without compromising on the quality of new business written is particularly encouraging.  It reflects our ability to provide a competitive market proposition and, most importantly, deliver on our promises.

“Our shareholders have made it clear that additional funds are available to support continued growth and we look forward to continuing in a similar fashion over the coming months.”

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