Cheval, the only specialist bridging lender to become a full member of the CML, has recently delivered a briefing for CML staff on the bridging finance market. A summary of this briefing appeared in a recent edition of the CML’s fortnightly newsletter, ‘News & Views’.
Cheval, which has sought to bring bridging finance lenders together to form a trade association, issued its own voluntary Code of Conduct last year. This has helped to amplify the need for intermediaries and their clients to ensure they are receiving transparent and complete information on the costs involved in setting up bridging finance, as well as the importance of arranging refinance as soon as possible to minimise the costs.
Paul Rumbold, commenting on the conference, said, “Having been a full member of the CML for only 12 months, Cheval is delighted to be given this opportunity to speak about bridging finance. Bridging plays a vital role in assisting property transactions and it is good to see this category of lending receiving the attention it deserves.”
