It will broker bridging as well as development, heavy refurbishment and auction finance for complex deals to the wider intermediary market.
SPF Short Term Finance will use a preferred panel of providers to provide funding solutions for private individuals via their professional advisers.
Mark Harris, chief executive of SPF Private Clients, says: “Demand for short-term finance has soared in the past few years as traditional longer-term finance has been harder to come by. This is particularly true of the trickier niche funding areas that SPF Short Term Finance specialises in.”
Intermediaries can choose whether they want SPF Short Term Finance to advise their client – on a regulated or non-regulated basis – or use SPF along the lines of a traditional packager.
Referral commission will be negotiated on a case-by-case basis, paid to intermediaries on the day of completion.
Alan Cleary, managing director of Precise Mortgages, says: “The expansion of SPF’s services will be invaluable to many intermediaries who don’t have that level of expertise in-house.”