BFS on track for 25% growth
Bridging Finance Solutions is on track to hit its target of 25% compounded growth across the business for the fifth year in succession.
This year the lender has seen strong sales volumes, with over 40% of deals completed in the North of the country and considerable growth across the Midlands, the South East and Wales.
During 2019, BFS also saw a sharp increase in development finance deals completed as well as sub £1m bridging loans.
Steve Barber, managing director of BFS, said: “I’m really pleased to see that once again we achieved our targets of 25% growth year-on-year.
“We have a very clear strategy in place and continue to invest in the business, our resources, infrastructure and people to ensure we are able to meet our objectives.”
This year, the firm appointed two new business development managers and an underwriter.
Barber added: “We’ve brought on new staff who are already proving to be a huge asset to the business and form a key part of our development strategy moving forward.
“They understand the industry and the bridging and development finance sectors and are meeting and collaborating with new brokers and other industry professionals across the UK, educating the marketplace on the best ways to utilise this type of niche short term finance.
“We’ve given ourselves identical targets for 2020 with an anticipated growth of 25%, which we believe is very achievable.
“We’ll continue to focus and build on our core areas of strength, supporting clients predominately in the North of the country in the smaller end of the bridging and development loans market.”