Bridging finance team lends £1.7m in record breaking month
July sees bridging payouts more than double in year-on-year lending comparison.
Our bridging loans team had a record breaking month in July, with payouts totalling £1,769,000. This figure has more than doubled compared to July 2016, in which the total funds lent amounted to £526,945.
Figures from the month include the provision of funds for the redemption of a Reward Capital facility and the conversion of a grade 2 listed building in the North East, that saw the property converted from a commercial build into twelve residential units.
The bridging team has increased by 75% this year, and this growth and dedication were key factors in reaching this milestone.
Liam Cavanagh, Operations Director at Ashley Finance said: “The whole bridging team is over the moon with this record achievement. We’ve enjoyed a really strong first half of 2017. At the close of 2016, the total funds Ashley Finance lent throughout the year equalled £5,828,632.78 – this year, we’ve lent a total of £5,268,904.70 to date, which is fantastic considering its only August.
“The growth and results we’ve seen is ultimately the result of a lot of hard work. Short-term funding solutions shouldn’t be stressful and we pride ourselves on providing a constructive approach.
“We’ve invested time in establishing ourselves with brokers and our dedication to flexible and fast funding has resulted in the creation of some strong customer relationships. Following this record-breaking month, we have high hopes that 2017 will be a record-breaking year.”
Our commercial bridging team offers quick bridging loans to suit the fast moving need for funding. We can provide loans up to £2 million against a loan-to-value of 75% and rates starting at a competitive 0.95%. As a company we also specialise in invoice finance and business loans which are flexible and open to those SMEs who have struggled getting funding support from other lenders.
This record month follows on from recent success at the Bridging and Commercial Awards, where Ashley was highly commended in the Best Bridging Newcomer category.