Clifton Private Finance has gained significant recognition by clinching the ‘Regulated Bridging Broker of the Year 2023’ title at the esteemed B&C Awards this month.
The ceremony, which took place at The Hurlingham Club in Fulham, was a vibrant gathering of over 780 professionals from the finance sector, celebrating the notable achievements within the industry.
Demystifying Bridging Loans
Bridging loans serve as a financial bridge that enables individuals or businesses to secure prompt funding for property transactions.
They are short-term in nature (typically 12 months), providing a financial cushion until a more permanent solution is attained, such as selling another property or securing a standard mortgage.
For instance, they are particularly beneficial for those looking to purchase a new property before selling an existing one. But they can also be used to flip properties and sell on for a profit which is a popular strategy for property developers.
The B&C Awards and Clifton’s Distinction
The B&C Awards is a prestigious event that shines a spotlight on exemplary performers in the bridging, commercial, and development finance sectors. The award of ‘Regulated Bridging Broker of the Year 2023’ awarded to Clifton Private Finance is a testament to the firm’s excellence and dedication in providing tailored bridging loan solutions.
It places Clifton Private Finance in a distinguished position, reflecting its adeptness in navigating the complex financial needs of clients, particularly in bustling and competitive property markets such as Manchester’s.
The accolade follows Clifton Private Finance’s outstanding performance in 2022, where the firm scooped up two prestigious awards at the B&C Awards: ‘Service Excellence – Brokers’ and ‘Regulated Bridging Broker of the Year.’ This back-to-back achievement underscores the company’s unwavering commitment to providing superior service and expertise in the bridging finance sector.
Reflections from the Head of Bridging
Sam O’Neill, Head of Bridging at Clifton Private Finance, expressed his immense pride in receiving and retaining the ‘Regulated Bridging Broker of the Year’ accolade at this year’s Bridging & Commercial Awards.
He mentioned, “Incredibly honoured to win (and retain) the Regulated Bridging Broker of the Year at this year’s Bridging & Commercial awards. In an increasingly regulated market, it’s exciting to be at the forefront of a sector we don’t see slowing down.”
Manchester’s Evolving Property Landscape
Manchester is currently a hotspot for property activity. The city’s property market is on an upswing, with a mix of investment properties, buy-to-lets, new residential homes, and commercial spaces.
The dynamic market conditions necessitate flexible and swift financial solutions, making bridging loans an appealing option for prospective buyers and investors.
The Role of a Bridging Loan Broker
A bridging loan broker serves as a mediator between individuals seeking short-term financing and the lenders providing these funds, chiefly for property transactions.
They scour the market to identify the most favourable bridging loan tailored to your project and financial situation, ensuring you receive the best available rates.
Brokers liaise with lenders to expedite your application, leveraging their industry connections (keep in mind most bridging lenders won’t accept applications directly anyway and require you to use a broker).
They also negotiate with various stakeholders like solicitors, surveyors, and estate agents to streamline the deal, ensuring a smooth transaction.
Throughout the process, a good bridging advisor will prioritise keeping you comfortable and well-informed, making the complex process of securing a bridging loan considerably more manageable and less stressful.
