The Mortgage Hut is launching a new bridging and commercial finance arm.
The firm says the launch is to meet growing demand from customers who need complex property loans.
The new division of the company will offer a range of bespoke loans to private and commercial clients. Loans will typically be property acquisition, refinancing and redevelopment.
Mortgage Hut says its new arm will be able to handle complex deal which may be turned down by mainstream lenders.
The Mortgage Hut group managing director Chris Schutrups says: “More and more of our customers were asking us to finance a range of challenging property transactions. We can offer finance that simply doesn’t fit the criteria of the national lenders.”
The firm’s products are developed on a bespoke basis and priced according to risk. Recent deal have including the refinancing of a large buy-to-let property portfolio, the acquisition of a care home, and the purchase of a dental practice.
Schutrups adds: “There are many businesses out there that are struggling to secure finance as they simply don’t tick the right boxes. However, they can be highly profitable and we are able to package bespoke deal to help them to develop and grow.”