Mayfair Bridging launches exclusive North West product

Mayfair Bridging launches exclusive North West product




After being acquired last month by Capital Bridging Finance, Mayfair Bridging has launched a new product exclusively aimed at the North West ….

After being acquired last month by Capital Bridging Finance, Mayfair Bridging has launched a new product exclusively aimed at the North West …

The bridging and development product launched late last month with law firm FieldFisher. Its offering consists of a 70 per cent LTV, rolled up interest, rates as low as one per cent and a two per cent arrangement fee. The product also features no exit fees.

Commenting on the reasons behind the launch, Yasin Patel of Mayfair Bridging said: “We have seen a lot of concentration from lenders inside the M25 – we want to lend more deals outside of London, such as Manchester, Liverpool and Preston.”

“After being acquired by Capital Bridging, we think it is a good time to give back to the North West.”

Being an FCA-regulated lender allows Mayfair to do owner-occupied developments, which Yasin believes the North West has an abundance of.

“In the North West, we found a lot of clients are doing home improvements/light refurbishments, in order to add value to their property – we believe our new product will fit in well with the demand.”

Mayfair Bridging is currently growing its sales team and has also revealed that it has taken on a new underwriter with 27 years of experience from Halifax.

“We have pledged to lend £25 million around the North West as well as aiming for our total loan book to reach £100 million by the end of 2015 – which is one of the reasons why we want to grow our BDM team.”

To get in contact about the BDM positions, please contact Yasin Patel on 01772 78 88 88.

Leave a comment