We're no longer writing first charge bridging loans
Building relationships providing additional second charge funding
Just Bridging Loans Ltd has announced it will no longer be writing first charge bridging loans as it conflicts with its current partnership strategy.
Director, John Davies explains," The vast majority of our business involves supporting property professionals by providing second charge facilities to assist achievement of 100% funding. We are busy building relationships with well established bridging lenders by showing how we can add value to their current propositions."
"The major players are all bound by LTVs of around 70%, however, our business model is designed to provide additional second charge funding by underwriting the property professional's business in addition to considering the value of the property portfolio.
"We do anticipate continued direct approaches for first charge facilities but in future we will forward these to lenders and brokers we have relationships with. We want to be positioned as a collaborative partner and not a direct competitor."
Date Issued 03 September 2015.