Crystal sees record-breaking year

The finance distributor issued £2.33bn of terms from high street and specialist lenders.

Completion values increased by 40% in 2018 and applications reaching drawdown were up 18%, according to Crystal.

Overall application numbers rose 8% against 2017.

The increases were credited to better IT solutions, which ensure that applications moving forward to offer have a better chance of reaching drawdown.

Jo Breeden, managing director of Crystal Specialist Finance (pictured), added: “Last year we also completed our first deals using Open Banking, something that will definitely come more to the fore in 2019.

“The market will remain challenging over the next 12 months but further IT solutions are being prepared, one of which we believe will change the face of specialist lending.”