The Mortgage Hut is aiming to meet growing customer demand for complex property loans by launching a new bridging and commercial finance arm.
The arm will offer a range of bespoke loans to private and commercial clients for property acquisition, refinancing property redevelopment.
“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,” Chris Schutrups, group managing director of The Mortgage Hut, commented.
“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.
The new arm will be capable of handling difficult property deals, many of which would be turned down by mainstream lenders.
Schutrups added: “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."