Cheval to unveil fresh look at Expo

Bridging loan specialist Cheval is planning to unveil its new logo and website at this year’s Mortgage Expo in London.

The company is looking to spread the word to brokers who it says may either have a negative opinion of bridging finance or be unaware of the situations in which it can be used.

Paul Rumbold, marketing director of Cheval, says: “People have had distinctly mixed experiences with bridging finance firms in the past but we want to be the acceptable face of the industry and be transparent and fair in everything we do.”

The only charge Cheval imposes is a 1.4% rate of interest calculated daily. There is no completion fee. The company says that while some firms charge less than this, they tend to add on other fees.

Bridging finance can be used for a variety of purposes ranging from residential to commercial loans. The average size loan is 200,000 and the average length of loan is seven months.

Cheval’s website has been revamped to allow brokers to produce an online Key Facts Illustration. There is also a facility to track the progress of a loan.

The firm is poised to make a big push into Scotland and is preparing a Scottish legal version of its documentation to this end.

Rumbold adds: “People are not confident about bridging finance at the moment but we are educating them and showing them how it can be another string to their bow.”