A specialist Liverpool city region property lender says it expects to complete £30m of loans in 2022 – a 20% increase in 2021. Tony McDonough reports

Short-term property lender Bridging Finance Solutions (BFS) says it aims to complete £30m of loans this year – up from £25m in 2021.

Wirral-based BFS offers bridging and development loans to property developers in Liverpool city region and across the UK and has been operating from its Wallasey headquarters for a number of years.

To facilitate the projected 20% growth the firms has increased its headcount and now employs 20 permanent staff members. More appointments are expected to be made in the year ahead to support the continued growth plans.

Managing director Steve Barber, founded BFS in 2006. And it was after the financial crash the business really started to take off. Developers found traditional routes of racing finance, such as banks, closed off and looked around for alternatives.

It provides quick turnaround short-term finance, secured in property, to developers and investors looking to close a deal quickly. They may need to buy quickly from auctions or need to refurbish before they can apply for longer-term bank financing.

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“We have been quite staggered by the demand for safe and secure specialist lending during the past 12 months and have facilitated this through a carefully planned growth strategy,” said Steve. “As an independent, FCA-regulated business, we are agile and reactive, strengthening resources to meet this demand.

“We’ve experienced growth in both key areas of the business in both bridging loans and development loans. We are welcoming both repeat business and new customers seeking support for regulated self-build development and residential development, refurbishments and conversions.

“We continue to consolidate our position within our niche area of the market which sits primarily in the sub £2m market and the north. However, we are expanding geographically. 

“Delivering an exceptional service through personalised account managers and digital marketing remains our over-arching commitment and is the foundation on which all our growth is based.

“I believe that demand for specialist lending will continue as high street banks remain cautious as they continue to manage the impact of government led financial borrowing including the Coronavirus Business Interruption Loan Scheme and British Bank Loan Scheme.

“Increasingly, specialist lending is being recognised as part of a proactive and viable solution by borrowers, brokers and professional advisors, and we are undoubtedly an important part of this movement.”