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

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Latest News


Fincorp thinks: Is the vogue for development a warning the market is overheating?


By Matthew Anderson, director, Fincorp

In the past month or so I’ve seen an increasing amount written in the trade press about development finance. Two of the major specialist short-term lenders in the market have recently been out in the market promoting funding they have available specifically for development projects.

Their timing is interesting I think.

In my career before Fincorp I spent eight years at specialist development finance lender Wintrust. And indeed when I first started at Fincorp we had a specialist line devoted to development finance. We stopped doing it because we could see better opportunities for our investors on the bridging side. But we have a long history in the development market and a deep understanding of it.

Development finance is inherently riskier lending than a bridge, even one taken to do heavy refurbishment work.

For a start developments require specialist valuers to assess the cost of build. There are all kinds of issues that can arise on out of the ground projects that you just wouldn’t even consider on a refurb deal. One example that springs to mind was a developer planning to build four miles from the nearest drainage system – the cost of extending the drains to beneath the property made what at first looked like an attractive deal completely unworkable.

Projects that haven’t yet begun also take a completely different level of managing and commitment by developers and lenders have a lot less wriggle room if things take longer than expected. And where property development from the ground up is concerned, it nearly always takes longer than expected. 

The real danger from the lender’s perspective is that the developer’s profit margin is eroded by delays in the project. If a developer is managing a project with the prospect of making a whack of cash for himself at the end he has a vested interest in keeping things going at a fair lick. Once that profit is lost, developers tend to lose interest.

Lenders run the risk that they suddenly need to be on site three mornings a week to make sure things keep progressing. And selling a repossessed development on is not easy. More often than not unfinished developments end up having to be auctioned and the value is massacred.

This is particularly relevant for bridging lenders providing development finance. Funding lines designed to pay investors a return linked to a monthly rate between 1-2% generated on a bridge just don’t make sense for development finance. The sums don’t add up. Developments take a lot longer than refurbishments and if a developer is paying 15% in interest a year it will consume profit even on the very best projects.

Lenders considering development finance really need to have arranged a separate funding line with lower costs to reflect the longer duration of projects. Currently I’m not sure there’s a huge number of funding options out there that we think make commercial sense. And given our background in development it is something we keep our eye on quite closely. The scales are certainly beginning to tip as the property market recovery strengthens and confidence is returning. But I would argue that we’re still not quite there yet.

Instead I am concerned that this increasing interest in development finance is indicative of something else – lenders with cash to lend are struggling to find deals they would do at the lower risk end of the scale. There is intense competition for every good quality bridging loan and even at the start of this year we’ve seen another big lender launch into the short-term market.

Bridging always was and remains a niche type of lending. Although the market has undoubtedly grown over the past few years – I’m not sure whether the £2 billion touted by some is accurate but I would concede that it’s probably now in excess of £1 billion a year – there is a natural limit on this sort of business.

There are lenders with expertise in the development finance market out there and I have no doubt that there is good quality business available to be done at the right price. The risk is that, in a bid to lend, there are those with less experience taking developers’ pitches at face value.

A growing market is in all of our interests but I worry that there are too many sales oriented people driving decisions that should be made by those with practical lending experience.