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Challenger bank to expand into bridging finance

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  • 07/03/2016
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Challenger bank to expand into bridging finance
Hampshire Trust has revealed its intentions to launch into the bridging market as it continues to grow its commercial mortgages team.

The bank has traditionally focussed on supporting UK-based small and medium-sized enterprises (SMEs), but announced in January it intended to expand into commercial and buy-to-let mortgage sectors.

Managing director of commercial mortgages Colin Bell (pictured), formerly of One Savings Bank and Interbay Commercial, said the move into bridging was a response to the growing demand for short-term finance.

“The bridging, commercial and professional landlord mortgage sectors represent a wealth of opportunities for us,” said Bell.

“The chance to be involved in the start up of a new business line within this growing and well-respected specialist challenger bank was just the opportunity I have been looking out for.”

Colin Stevens will head up the bridging team. Stevens’ previous positions include director of lending at Heritable Bank and head of mortgage lending at Sun Bank. Iain McCarrell joins Hampshire Trust as senior underwriter with 15 years’ experience. His most recent position was with bridging lender Amicus.

The bank would not disclose details of its bridging products.

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