Distributor reports 72% surge in development finance enquiries
Specialist distributor First 4 Bridging has announced it has received a 72% rise in development finance enquiries during the first quarter of 2017.
The company attributed the increase in part to tighter underwriting within the buy-to-let sector.
As a result, First 4 Bridging has launched a new development finance department in response to the surge, which will be led by First 4 Bridging’s head of structured finance Elliot Hyames.
“As far as First 4 Bridging is concerned, 2017 has certainly been the year of growth within development finance, and it’s clear that developers are looking to make the most of their opportunities, especially given the low level of housing supply that is coming to market,” said Elliot.
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