Wallasey-based Bridging Finance Solutions says the majority of its first quarter growth has been in the sub-£1m development sector. Tony McDonough reports

Specialist Merseyside property lender Bridging Finance Solutions (BFS) is looking to recruit more staff after revealing a 60% increase in loan volumes for the first quarter of 2019.

The figure represents a steep rise on the same period in 2018 and Wallasey-based BFS says its has seen the majority of growth in the sub-£1m development sector, an area in which many lenders continue to have little appetite.

John Hardman, head of sales at the firm, said: “BFS remains committed to a business development strategy which focuses on the key areas of sub-£1m development finance and bridging loans to a UK wide customer base.

“Our customer first ethos and personal approach remains pivotal. We have also been consistent in terms of our approach to risk and procedure, something that brokers and clients get huge peace of mind from.”

BFS anticipates further growth for the year ahead and is targeting a 25% increase in overall revenue across 2019.

Mr Hardman added: “This first quarter of 2019 has taken us all by surprise in terms of volume and has marked a fantastic start to the year. Our journey at BFS is now at a stage where we need to ensure we continue to deliver first class results both in terms of service and face to face sales.

“To help us achieve this, we have begun to roll out our recruitment drive through which we aim to make a number of key appointments in our sales and underwriting departments over the coming months.”