Sourcing system for bridging loans launched
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A bridging sourcing system to help brokers directly place cases with lenders has been launched today by Ed Payne, the former commercial manager at Moneyfacts.
Called Bridginglenders.com, the system currently contains criteria data for over 25 bridging lenders and will allow brokers to see which bridging lenders will accept their clients, a list of their search results and an email record of their search criteria.
The portal is the brainchild of Payne, managing director at Bridginglenders.com, and former IFA and developer, Roly Birkwood, who is technical director at the IT firm.
The pair have been developing the sourcing system since November last year. It is free for brokers to use the system and lenders to appear on it, with the firm’s revenue instead generated via advertising on the site.
Payne says that the majority of bridging providers are interested in broadening their distribution and dealing with brokers direct.
He says: “The bridging market has grown so quickly over the last two years as borrowers have sought flexible alternative sources of funding.
“This system removes the mystery from bridging and allows ordinary intermediaries to find the right lenders that meet their clients’ needs.”
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