Signature lent over £37m in 2020
Signature Property Finance recorded its greatest ever lending figure in 2020 by having lent over £37m.
This represents an increase of more than a third on the figure recorded in 2019.
According to the lender, it noted a 72% increase in the number of completed deals at 138, over the course of 2020.
Tony Gilbertson, chief executive of Signature, said: “We decided from the outset that it was important to support the work of our existing clients, brokers and developers, to get their deals completed, rather than look for new business from those let down elsewhere.
“By continuing to do what we say we will do and lend on the terms first agreed, with no nasty surprises for our clients when the deadline draws near, we managed to provide brokers with the certainty of funding they needed in troubled times.
“This year promises more of the same, despite the arrival of the vaccines. There will undoubtedly be disruption to the sector again and the way we do business, but I’m confident Signature is in the best shape it’s ever been in and ready to find ways to get deals done, not excuses to walk away.
“The pandemic and the need to work from home where possible, is driving a shift in the housing market. Many people are looking to leave the big cities for more rural locations, which will ensure a growing demand for good quality small developments in towns and villages across the country.
“With a few arrivals late in the year, we now have a great team in place, all with personal experience of property development, from refurbishment to ground-up. This puts us in a great position to take advantage of the shift in the sector, especially with our ability to adapt quickly to new opportunities.
“It feels like significant change has occurred, not just in the way people work now, but the way people want to work in future. And only those lenders with the ambition to look at every deal on its own merit will succeed in what I expect to be a tough, yet exciting year ahead for Signature.
“We will set ourselves a stretching target for this coming year, based on the upward trend of our annual figures, but I do not see a return to normal any time soon for the UK economy and believe another year’s performance similar to the last one, will represent a major triumph for Signature.”