Spring Finance launches enhanced offering into the non FCA regulated bridging market

08 May 2024

Specialist lender Spring Finance (Spring) has today announced the launch of a dedicated suite of products and process for the non FCA regulated bridging market.

The products will cater for standard residential property, light and heavy renovation schemes, commercial property and HMO conversions. Pricing starts at 0.94% per month, includes options for AVM’s on residential property and offers 70% LTV on HMO conversions with 100% funding for works. Commercial property LTVs go up to 65% based on market value. There are no early redemption charges on any products.

Having entered the bridging market 2 years ago, Spring have quickly established themselves as a recognised specialist regulated lender. This launch aims to build their reputation in the unregulated market with a proposition that offers bespoke underwriting, a streamlined process, certainty of funding with transparent and fair pricing.

Jim Baker, sales director of bridging said, “Spring is dedicated to delivering what matters and that means common sense decisions, slick processes and above all, brokers feeling they are working in partnership with us to achieve the funding needs of their clients. The unregulated market is flooded with lending options and promises of cheap pricing and punchy criteria, but the message I hear time and time again is brokers simply want a lender they can trust to deliver the funds. With a hugely experienced team, diverse and robust funding lines and an absolute dedication to building the strongest relationships, I am sure this offering will be well received”.

Wayne Fitzpatrick, senior underwriter added, “Non-regulated lending has a very different dynamic to the regulated space. Brokers want a rapid no nonsense service and to be able to communicate directly with experienced underwriters who understands the deal and is working with them to get the funds as quickly and as fuss free as possible. This is a key part of our offering and I am confident that brokers will love how we work”.

Stephen Burns, partner of Word On The Street said, “I’m really pleased to see Spring Finance launch these products, which will be well received by the whole broker community. Those who use Spring Finance already know their process is solid and they can be relied upon to deliver, even with a tight timescale. The rates, AVM options and increased LTV levels featured in this launch, added to their excellent service will ensure their continued growth. For those unfamiliar with Spring and their team you now have no excuse - give them a try - you won’t be disappointed.”