Parke joined the company in October 2007 as Operations Manager and was instrumental in the formation of the new division, Crystal Commercial Funding. Previously he held the role of Account Manager at Beneficial Finance, part of HSBC, from September 2006 to September 2007. Prior to that he was Driver Services Team Leader at HSBC.
Following its launch on April 1, 2009, Crystal Mortgages has received applications totalling over £40 million from all around the UK for its unique near-prime commercial mortgage product. Parke will report to Roger Dewsbery, who holds the position of Senior Underwriter.
Parke said: "That was the correct product released at exactly the right time, and it continues to go from strength-to-strength. The large majority of agreed applications have tried various other routes to raise finance but have been unsuccessful, and we are in a position to assist.
"Now the division of Crystal Commercial Finance is ready to progress to the next level and as well as further boosting individual applications, we must be talking to banks and other lending institutions. It is an exciting time for me personally and the business as a whole."
Birmingham-based Crystal Mortgages offers near-prime commercial mortgages that considers applications based on current payment ability over the more traditional serviceability checks, which may cause applications to be declined by banks.
The company looks to understand fully why a client needs the funding, the security available and the payment ability. It targets the financial needs of the small business, considering mortgages from £30,000 to £600,000 with a maximum loan-to-value of 70%.
Repayment can be taken as interest only or capital and interest, with the product open to direct applicants or through brokers and intermediaries. It covers commercial and semi-commercial applications from England, Wales and mainland Scotland.
