The re-launch has been brought about to reflect the company's ambitions in the rapidly growing bridging loan sector of the short term finance market, which Datamonitor shows is currently growing by 16 per cent annually and is expected to be worth more than £5.6 billion by 2010.
The Bridgingloans.com site will make life simple for the growing numbers of commercial and residential borrowers by providing rapid access to dedicated information and services on short-term finance solutions. Registered users to the site are able to fill in the application details on-line for quick access to low-cost Bridgingloans.com finance which offers rates starting from 1.15 per cent per month compared with an industry average of 1.25 per cent.
An enhanced product portfolio with an increased loan value of up to £10 million is also offered, enabling customers to more effectively cover the gap between the final payment on their new property and the date of sale of their existing home or the completion of mortgage arrangements.
Jasvinder Jhumat, commercial director, said: "There is a growing need in the ultra-competitive property market for quick loan solutions. Completions need to be made within tight deadlines, and that often leaves potential buyers in trouble, as a result of slow mortgage applications or sales on their own properties. The launch of Bridgingloans.com provides these borrowers with quick, easy access to information and services to help resolve some of the many issues that may arise when purchasing a property - whether that be for commercial or residential purposes. Customers receive fast, efficient service from the mortgage co-ordinators and we operate a 'one case, one case handler' policy from inception to completion.
"There has been significant growth in the bridging loans industry because of the increased competitiveness in the property market. An annual growth rate of 16 per cent means that bridging loan providers must be more efficient, accessible and open to new clients, so that they can feel confident in our services, and - at the end of the day - get the job done. We feel that these market developments now require a change in the way that we provide our market leading services to both residential and commercial borrowers."
