Private Finance adds BFS to panel
Bridging Finance Solutions (BFS) has been appointed to the lending panel of national brokerage company Private Finance.
As part of the agreement, the short-term lending specialist will join a handful of funding providers to offer bridging and development finance loans.
Shaun Church, director of Private Finance, said: “At Private Finance, we are selective about the lenders we work with and endeavour to handpick these to ensure our clients are well serviced.
“We had an existing relationship with Steve Allen who recently joined BFS and we very much like the way BFS work and the ability to speak to decision makers quickly and effectively on behalf of our clients.
“Steve Allen is an excellent business development manager (BDM) and he highlighted the interesting lending proposition that BFS offers, which we will find useful for our clients.
“We believe this will mark the beginning of a very strong and mutually beneficial relationship that will ultimately strengthen the product offering to our customers.
“We continue to experience a significant uptake in the number of bridging and development loans that we are arranging.
“We believe this is due to the high levels of demand in the market brought on by the pandemic and SDLT holiday, meaning clients want to move extremely quickly, seeking alternative solutions to make this possible.
“Moreover, the low interest rate environment and low returns on offer for savers means we have been seeing our clients looking to be more active with their funds.
“Now clients have seen the benefits of this type of finance, we suspect it is very much going to be a growth area.”
Steve Allen, BDM at BFS, added: “I’m really pleased to see BFS become part of the Private Finance Panel.
“They are a large whole-of-market brokerage that has successfully negotiated billions of pounds of mortgages.
“BFS is a regulated lender who offers self-build, ground-up development as well as credit impaired applicants.
“This partnership marks an important step in the ongoing growth and expansion of BFS and we look forward to working closely with them in the coming months and years.”