Mayfair Bridging gains FSA authorisation
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Bridging lender Mayfair Bridging has gained its Financial Services Authority authorisation and will now offer bridging loans on owner-occupied property.
The lender says it has been a very long and difficult process but finally it has all paid off and it will be launching a range of regulated products in the next few days.
Yasin Patel, director at Mayfair Bridging, says it first approached the FSA just over one year ago about gaining its authorisation.
He says: “Introducers should engage in business with a regulated lender. There are many unregulated lenders out there with scrupulous business practices therefore brokers would be treating their customers fairly by advising on products from a regulated lender.
“We will still be offering unregulated deals but authorisation has increased our product portfolio as we can now help all types of borrowers.’’
The lender says it has no current plans to offer residential mortgages.
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Readers' comments (1)
Daljit Sandhu | 4 Oct 2011 1:01 pm
Yes we must all beware of the scrupulous business practises of unregulated lenders..
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