Asset-based lender Final Finance has recorded a double milestone, with each its asset and bridging mortgage books hitting £100m on the finish of the primary quarter.
It proved to be a report quarter for Final Finance basically: its mortgage e book reached £342m, up 21 per cent or £60m in comparison with the identical interval in 2023. It additionally supplied £66m in new amenities in the course of the quarter, which is greater than double in comparison with the identical interval final yr.
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“Our dedication stays sturdy to assist the ambitions of SMEs and property traders by offering entry to the liquidity and funding options they want,’” mentioned chief government Josh Levy (pictured). “We’re happy to report a robust begin to 2024 and take encouragement that our technique continues to ship a rising market place.”
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In his opinion, the alternative forward is evident, with specialist lenders more and more enjoying a key position.
“Final yr noticed challenger banks and specialist lenders with a report 59 per cent share of complete lending to SMEs, the third consecutive yr during which market share has been best away from the most important 5 banks,” he added.
Final Finance at present helps greater than 3,500 companies with loans. It’s a part of worldwide personal funding firm Tavistock Group.
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