Saturday, February 24, 2024
Finance

Signature Property Finance hits $251m lending target

Property Finance

The business remained working at full capacity throughout the 24 months of pandemic restrictions to ensure brokers and their property developer clients could access the funds they needed

Short-term property finance provider, Signature Property Finance has reached another growth milestone, after hitting the £200m ($251m) lending target.

The business remained working at full capacity throughout the 24 months of pandemic restrictions to ensure brokers and their property developer clients could access the funds they needed.

Tony Gilbertson, Signature’s CEO, said: Good news has been rare in the property sector in recent times, but this lending figure shows the market is robust and returning to some semblance of normality.

Having supported developers with £100m ($125m) in funding since I formally took the reins in 2019, to deliver another £100m ($125m) in under three years, whilst facing the challenge of the pandemic, construction sector labour and supply shortages says a lot about the team we have developed here at Signature, he said.

A good geographic spread, with experienced relationship managers possessing good knowledge of local markets, ensures our service remains a personal one built on trust and our commitment to deliver on the terms first agreed – no sting in the tail, he said.

The pandemic threw up a number of challenges and with some lenders changing their terms or pulling the funding at the last minute, we honoured and completed on all our funding offers and faced a lot of last-minute deals from other lenders that had to be delivered in record time to ensure deadlines were hit, he said.

He said: Our team pulled together and we were able to complete when other lenders fell away, with our in-house legal team a major factor in our ability to deliver deals quickly. It has enhanced our reputation for making life simple for brokers, whilst adding to the total loaned during the last 12 months.

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