FRAUD ALERT:
It has been brought to our attention that a scam loans company called Loan4Help has been committing fraud by claiming to offer or advance “loans” to borrowers whilst pretending to be a trading company of Finance and Credit Corporation Limited. It is not. Loan4Help has absolutely no connection to Finance and Credit Corporation Limited.

It has also come to our attention that a third party has been contacting borrowers on a fraudulent basis by purporting to be Finance and Credit Corporation Limited and claiming to offer or advance “loans” to borrowers. This third party has been contacting borrowers on an unsolicited basis via the following email address: financeandcreditcorporationlim@gmail.com . Please note that our company Finance and Credit Corporation Limited is in no way connected with the third party and does not use or operate that email address.

These operations have been cold calling and emailing members of the public, fraudulently pretending to be or to be connected with Finance and Credit Corporation Limited, asking for upfront fees from borrowers and advancing monies in relation to purported “loans”. They have also sent documents to borrowers which fraudulently claim to contain the signature of the Managing Director of our company.

These operations have also been using the following telephone numbers to contact consumers: 0203 129 2514 and 0238 106 0723. They may also have been operating from other telephone numbers and email addresses.

Please note that Finance and Credit Corporation Limited does not cold call, send unsolicited signed “loan agreements” or ask for upfront fees. We strongly suggest that you call our Managing Director Elio Astone on 020 7722 7547 in advance of proceeding with any “loan” or if you have any further questions.

If you are contacted by Loan4Help, or any of the companies which appear to be involved in these frauds, you should also report them to Action Fraud on 0300 123 2040.


Bridging LoansClear & Simple

Fincorp is one of the UK's most established and respected bridging loan companies. For more than 25 years the company has been providing 1st and 2nd charge bridging finance on residential properties in London and Southern England. Our bridging loans vary typically between £100,000 and £10 million, and we lend up to 70% value of the property secured on the property. And because you deal only with decision-makers, your bridging loan requirements are always dealt with quickly and with the minimum of fuss.

Why Fincorp for Bridging Loans?

We're a Principal Lender. Customers are able to get a decision quickly on their bridging loan without having to wait for authorisation from anyone else. And there's no back-tracking at a later date. So that means when we say yes to a loan, we mean it.

Our approach to business is summed up in two words, Clear and Simple. We believe that bridging lending is a straightforward business, all too often complicated by lenders with their lack of transparency and reliance on the small print. We work hard to make your dealings with us as clear and simple as possible.

Our Criteria

  • Principal Lender
  • 1st and 2nd Charges
  • London and South East
  • Residential properties
  • Bridging Loans from £100,000 - £10 million
  • Up to 70% LTV

Enquiry/Application for Individual Applicants

 

10 Top Tips for finding the right bridging lender

Latest News


Bridging is diverging into a tale of two markets


Bridging is splitting into two distinct markets and the industry must acknowledge it serves two very different sorts of customer, says Fincorp.

Rather than being a straightforward short-term market, bridging is now two separate markets: short-term residential loans to consumers that fall into the regulated sector; and short-term loans to professionals looking at commercial opportunities in the unregulated sector.

Fincorp believes there must be a stronger division drawn between the two in the same way that residential mortgages and buy-to-let are separated.

Matthew Anderson, director at Fincorp, says this shift reflects the fact that the term “bridging” doesn’t refer to the type of lending it used to.

Anderson said: “There’s regulated lending on a short term basis which necessarily has more onerous underwriting criteria. This is often done by lenders who have only been doing bridging for a few years and perhaps have more of a background in mainstream lending.

"And we have short term lending to professionals in the commercial sector of the market who are developing properties that ultimately will end up in the residential market."

Anderson said both types of loan have a place in the market and welcomed the increasing competition bridging has experienced over the past few years.

But he added: "It's important we don't confuse these two very different sorts of customer and end up driving the availability of loans to professionals into the ground."

The bridging lender’s claim follows Mel Fordham, chief executive of broker Centrado, suggesting bridging lenders were starting to “act more like the mainstream as lenders start to apply a regulated ethos to what they do”.

Fordham told Bridging Introducer: “We have an enquiry at 55% loan to value for £600,000 which has turned into a ‘30 item’ request list from the lender; so they will want to see six month personal bank statements, they want to see the payment profile for a car loan the customer has taken out and pretty much the details of his entire financial life.”

Anderson said this example highlighted the need for more accurate division of the two sides of the short-term sector.

He said: “It comes back to how we understand what bridging is. The need for protracted underwriting is reminiscent of the regulated and consumer mortgage market.

“In the short-term sector where we are lending to property professionals looking at development opportunities, putting the borrower under a microscope like this is excessive.  A different, just as thorough, but faster, type of underwriting is needed. But some lenders who offer mainstream mortgages or regulated consumer bridging loans are lumping the commercial part of the market in with residential loans.”

Fordham suggested that the more onerous underwriting was a direct result of more bridging lenders becoming regulated and the regulator therefore looking more closely at their commercial business and the unregulated loans they are writing.

Anderson said: "All lenders have to be careful about who they are lending to and the quality of deals they approve – something we take very seriously. But demanding an inside trouser leg measurement from professional property developers risks undermining the value short-term finance can offer.

"Speed has always been critical in bridging and if you have the experience and correct market knowledge, underwriting does not have to be so tick box and lengthy. Just because it isn't tick box doesn't mean it isn't good quality. There seems to be a perception that weeks of underwriting mean a lender has done a better job. That's not how we see it - after 25 years in the market we know how to underwrite a loan quickly and properly.”