Introduction A


Robert Thickett Editor, Mortgage Strategy


s brutal as the downturn has been for the intermediary market, it has also thrown up a number of opportunities. And in the current climate there’s no better example of this than in the bridging sector.


With the high street shunning complicated or niche deals, short-term lenders have helped to fill the gap to provide tangible solutions to developers and would-be borrowers. But how can any broker looking to tap into this market for their clients gain more information about bridging and the various pros and cons associated with such loans? Short-term lending is a complicated market with its own dynamics and rules just


as there are in the mainstream mortgage market. You have the classic bridge, the open or closed bridge, regulated and unregulated bridging – all of which can be con- fusing to the uninitiated. The aim then of Mortgage Strategy’s Guide to Bridging is to provide an insight into this growing market and help you and your company capitalise on this sector. Our cover story provides a breakdown of some of the basic terms used in bridg-


ing, while seven of the industry’s biggest lenders give you the inside track on the market.


And finally, Rob Jupp, managing director of BrightStar Financial, offers tips on


when bridging finance should be used and, perhaps more important, when it should not be considered.


Contents


4 Cover Story Understanding how bridging works is vital for brokers looking to tap into this niche sector


9 Precise Mortgages Brokers and lenders must take advantage of the growing bridging sector, says Alan Cleary


13 Blemain Group


Sector has adapted to market conditions and offers innovative solutions, says Gary Bailey


17 Bridgebank Capital Making sure bridging is appropriate for clients is essential, says Laurence Goodman


21 Fincorp Christine Toner says clients need to know what fees they are paying and why


The


25 Masthaven Bridging Finance Gaining FSA authorisation is paying off, says Richard Deacon


29 United Trust Bank Tailor-made bridging loans show how flexible the sector can be, says Alan Margolis


33 Dragonfly Property Finance Jonathan Samuels explains how investors can make money out of a bear market


36 Comment


BrightStar Financial’s Rob Jupp on when bridging does and doesn’t work


38 Contacts Directory guide to Bridging Finance 2012 3


GUIDE TO BRIDGING FINANCE


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