Spring Finance hires bridging underwriter

Lapid, who has six years of underwriting experience and previously worked at Masthaven, will report to Claire Newman, head of bridging.

Spring Finance established itself in 2011 as a long-term second charge lender, lending to customers who did not meet the mainstream lending criteria of high street banks, building societies and other lenders.

It is authorised and regulated by the Financial Conduct Authority for regulated mortgage lending and administration, and consumer buy-to-let lending.

Last month Spring launched its bridging and development finance proposition lending on a first and second charge basis with a mixture of regulated and unregulated loans. 

Following the successful pilot phase of their bridging proposition, Spring said it had now completed a number of loans and was seeing a significant number of applications being processed.

The appointment of Lapid is aimed at supporting this growth. Spring said it would continue to bring in experienced hires as it built its specialist bridging team in preparation for a full launch to the bridging market later this month.  

Lapid (pictured) said: “I am incredibly excited to be joining the team at Spring. They have a clear vision to  provide a trusted and personal level of service to their customers. I am looking forward to working in  an environment where I can build strong relationships with the intermediaries to deliver great results.”

Newman said: “Jordan joining Spring is another great step forward for  the bridging team. He embodies the key elements that we are looking to provide to our brokers and  clients and will ensure that our service levels remain high as we move forward. Having worked with Jordan for many years before I have no doubt that he will hit the ground running and I’m thoroughly  looking forward to working with him again.”