Following the FCA’s approval, the lender can now accept and administer regulated bridging finance applications.
Managing director Keith Aldridge (pictured) said the firm has been in consultation with the regulator for some time and funding was now in place to offer such products.
“Our long term growth plans have always included an appetite to provide regulated bridging loans to our growing number of premier partners,” he said.
“Over the past two years we have been in constant communication with our partners and I am delighted to say that their contribution to our application for permissions helped us to secure regulated status from 1 August, 2014.”
“We believe being regulated will reinforce our growing reputation as a quality lender who has the needs of the client at the core of its proposition and one who has a forward thinking philosophy that can only benefit our growing number of distribution partners.”
Benson Hersch, CEO of the Association of Short Term Lenders, said: “Capital Bridging Finance is a valued member of the ASTL and subscribes to its Code of Conduct and Value Statement, which put responsible lending as a core objective. We welcome their entry into the regulated mortgage market.”
