Falcon Group launches Falcon Bridging Finance Limited
Global specialist financier becomes first publicly-rated bridging finance lender in the UK.
Falcon Group has launched Falcon Bridging Finance Limited, which will offer a range of non-regulated products for both the residential and commercial property sectors via financial intermediaries in England and Wales.
With over 24 years’ experience in the alternative lending sector, and turnover in excess of £6bn in the past three years alone, Falcon Group’s latest venture will offer bridging loans of up to £10m with tenors of up to 24 months, and a loan-to-value (LTV) of up to 75%.
Will Nagle, CEO at Falcon Group, comments:
“This new venture demonstrates our commitment to the UK market and is reflective of business diversification and expansion strategy. Non-bank bridging finance is a fast-growing sector in the UK and – as the first publicly rated bridging lender – our ambition is to become one of the leading players in the market over the next three to five years.”
Heading up the bridging finance team is Paul Brooks, Falcon Group’s head of asset backed lending. Brooks will also be joined by newly appointed Donna-Louise House –previously of LendInvest and Shawbrook bank – who brings 18 years’ experience to the post.
Donna-Louise House, head of underwriting at Falcon Bridging Finance Limited, says:
“I’m thrilled to be part of this exciting venture for Falcon Group, and very much look forward to welcoming some key hires to the team over the coming months. Falcon Group has an unprecedented track record as a non-bank lender in the trade finance world, and I’m confident that we will replicate that success in the bridging finance market. Indeed, as a market that – over recent months – has experienced some negative attention, I’m certain that Falcon Bridging Finance will be the game changer that the industry needs.”