The Mortgage Hut has launched a bridging and commercial finance arm. The division will handle complex property deals for private and commercial client
The Mortgage Hut has launched a bridging and commercial finance arm.
The division will handle complex property deals for private and commercial clients.
Chris Schutrups, group managing director of The Mortgage Hut, said: “We decided to launch a new bridging and commercial finance arm, as more and more of our customers were asking us to finance a range of challenging property transactions.
Annual bridging lending grows for third consecutive quarter
“We can offer finance for property finance, that simply don’t fit the criteria of the national lenders and our finance products are developed on a bespoke basis and priced according to the risk.
“Over the past six weeks, we have funded the refinancing of a large BTL portfolio; the acquisition of a care home; and the purchase of a dental practice. These cases have featured higher loans to value and have been slightly complex in nature.
“There are many businesses out there that are struggling to secure finance, as they simply don’t tick the right boxes. However, they can be highly profitable and we are able to package bespoke deals which help them to develop and grow their business.”
The Mortgage Hut was established in 2011 has offices in Southampton, Eastleigh, Fareham, Basingstoke and London.