Exclusive: Capital Bridging Finance gets regulated
By Chanice HenryBridging lender Capital Bridging Finance (London) Limited, a subsidiary of Capital Bridging Limited has obtained authorisation from the FCA to accept and administer regulated bridging loan
Section: News from the astl
Bridging lender Capital Bridging Finance (London) Limited, a subsidiary of Capital Bridging Limited has obtained authorisation from the FCA to accept and administer regulated bridging loan applications.
The lender announced at the start of the year that it had submitted its application to the regulator to become regulated in line with growth plans.
Keith Aldridge, Managing Director, states that the lender’s growth in the last two years has seen a focus on recruiting high quality underwriters who are experienced in both regulated and unregulated short term lending.
After piloting an £870,000 regulated loan last month, Capital Bridging Finance is “ready to capitalise on what we know is a growing market…”
Keith Aldridge comments: “Our long term growth plans have always included an appetite to provide regulated bridging loans to our growing number of premier partners. Over the past two years we have been in constant communication with our partners and I am delighted to say that their contribution to our application for permissions helped us to secure regulated status from 1st August, 2014.
“Since then we have been ensuring our processes are robust enough to guarantee this new area of business will provide an attractive and positive experience to our premier partners and clients alike.
“We believe being regulated will reinforce our growing reputation as a quality lender who has the needs of the client at the core of its proposition and one who has a forward thinking philosophy that can only benefit our growing number of distribution partners. Achieving this will ensure that our established funding lines will be in place for many years to come.”
In July this year, Capital Bridging Finance announced it had received £100 million boost from a major bank, in March the lender obtained a new funding line that was set to treble its loan terms.
Benson Hersch CEO of the ASTL adds: “Capital Bridging Finance is a valued member of the ASTL and subscribes to its Code of Conduct and Value Statement, which put responsible lending as a core objective. We welcome their entry into the regulated mortgage market.”
Keywords: bridging lender, capital bridging, short term loan, finance, keith aldridge, regulation, financial conduct authority, FCA, growth, first charge loan, bridging loan, bridger