The short-term lender said reports of a potential joint venture published on another website earlier today were “factually incorrect and riddled with inaccuracies”.
The report claimed Bridgebank was in talks with Federal Finance which planned “to utilise the facility of an existing lender, Bridgebank Capital – although no plans have yet been formalised”.
Federal Finance was reported to have claimed it planned to offer bridging loans up to 90% loan to value after separately securing access to a £40m fund backed by UK-based investors and hedge funds.
The brokerage was also rumoured to be hoping to white label Bridgebank loans before beginning to lend the funds in from its other investor.
But Laurence Goodman, chief executive of Bridgebank, said: “The facts have been grossly misreported and a denial had been issued to the publication before it was published.
“Bridgebank Capital is always in discussions with brokers about potential new marketing initiatives however not as reported in that article.”
Federal Finance director Tan Bahia declined to comment.
