News & Views

Fincorp exhibits at NACFB Show - Stand E05

Fincorp, the 'No-Fees' Bridging Lender, will be exhibiting at the Commercial Finance Expo 2012 on 27th June for the first time. Barry Scott, Fincorp's Business Manager, will be manning the stand and is anticipating a busy day.
The exhibition stand will reflect Fincorp's highly distinctive black and yellow identity, and carries a testimonial theme 'Trusted by brokers'.

Brokers trust Fincorp to protect their reputation

A leading commercial brokerage has endorsed bridging lender Fincorp as the best in the business when it comes to strengthening client relationships and maintaining reputation.
Hemel Hempstead-based Charleston Financial Services specialises in commercial and bridging finance and deals directly with members of the public and intermediaries. Providing a reliable service and maintaining its first-class reputation with clients and brokers is key to the firm.
David Pooley, director, says: "The most important thing for us at Charleston is to have confidence in the lenders we deal with, particularly when it comes to bridging finance. We need to know that the decision we receive on day one is adhered to."
Unlike many specialist lenders, Fincorp is a principal lender, which ensures customers are able to get a decision immediately without having to wait for authorisation from anybody else and, once made, that decision will not change.
Charleston Financial Services discovered this first hand recently when it received an enquiry from one of its main introducers, where a client was looking for a 2nd charge bridging loan in order to consolidate business finance that he already had. He was seeking £360,000.
"We needed a swift response and we received that from Fincorp," says David. "We were able to issue terms within two hours of the initial enquiry. The main reason for choosing for Fincorp over any other lender is down to the service we receive and the fact there are no initial fees payable by the client.
"It's important for us to be able to reassure our client that the terms we are issuing to them on day one will go through to completion, so they know they're in safe hands."
Barry Scott, business development manager at Fincorp, says: "We're proud to be recommended by Charleston Financial Services. Offering a service that our clients can trust is very important to us so it is good to know that is being recognised."
Fincorp, known as the 'No-fees' bridging firm, deals primarily in London and the South East and offers residential property loans from £150,000 to £5,000,000, with no minimum or maximum period and can loan up to 70% of the property value, secured on the property.

Fincorp's 'No-fees' bridging approach helps fill the mainstream lending void

Bridging finance has long been seen as a specialist form of lending, used only as a last resort. As such not a lot of people know about or indeed understand it. But in recent years bridging has come into its own, with its vast number of uses becoming clearer. As such Fincorp, one of the most well-respected names in the sector, has seen a surge in business, as it continues its mission to offer no-fuss, fee-free loans to individuals and businesses alike, amidst the tough economic times.
Where high street lenders are concerned, lending is no longer something they're always willing to do. Indeed even prime, run of the mill funding is difficult to come by, so for individuals seeking specialist lending the challenge is often insurmountable.
Let's look at some examples.
Buying at auction is a popular way to buy property these days. However, obtaining the funds to buy at auction from a mainstream lender can be almost impossible. Bridging finance can help individuals to access funding quickly and easily - often within 48 hours - in order to complete on a transaction in time.
Bridging can also help for properties that are unmortgageable due to structural issues or a lack of what are deemed as basic requirements (a kitchen or bathroom for example). Bridging finance can enable a buyer to purchase the property and make the necessary renovations before seeking mainstream finance.
Businesses too can benefit. For the last couple of years the government has joined small businesses across the UK in urging banks to lend to small firms. Yet, despite frequent calls on UK lenders to do their bit for the recovery it seems they are failing to comply.
Lenders have squeezed their criteria so tight that only the bare minimum of businesses have managed to obtain funding at a time when small businesses need finance more than ever.
Second charge bridging can help clients to complete on commercial transactions relating to their business. For many business owners there is often a delay in receiving commercial finance from their bank. They therefore need second charge bridging finance in order to fill the void.
Unlike many specialist lenders Fincorp is a principal lender and customers are therefore able to get a decision immediately without having to wait for authorisation from anybody else.
Barry Scott, business development manager at Fincorp, says: "We pride ourselves on being a lender clients can rely on when they're up against it and our clear cut lending helps us to assist them quickly and with minimum fuss."
Fincorp specialises in residential property loans, primarily in London and the South East. We can lend anything from £150,000 to £5,000,000, with no minimum or maximum period and loan up to 70% of the property value, secured on the property.