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Crystal Specialist Finance and Together helps property development firm bridge funding gap in 48 hours

Monday 26 Feb 2018

Together and Crystal Specialist Finance have provided a short-term loan of £102,600 when the borrower, a property development company, was let down at the last minute by another bridging finance provider.

The company needed the funds for a development of seven flats and a two-bed townhouse which were close to completion, but required additional finance quickly so that the project was not delayed.

The developers intend to refinance in six months when they let the eight rental properties, and thanks to the fast funding from Together, they are back on track to finish the project as planned.

Jo Breeden, managing director of Crystal Specialist Finance said: “This case was quite straightforward, but the initial lender simply couldn’t deliver in the timescales. Thankfully, Together stepped in and delivered the loan within just 48 hours – a huge relief for the customer and a great outcome.”

Together’s commercial CEO Marc Goldberg said: “We pride ourselves on our speed of service when it comes to bridging. We see so many scenarios like this where other lenders make promises and then don’t deliver, but when we’ve committed to lend to a customer, we will do all we can to provide the funds as quickly as possible, even when the deadlines are extremely tight.

“Our broker partners like Crystal Specialist Finance know they can rely on us when it comes to unusual or complex cases, and when we saw this development, which is of a really high standard and was very close to completion, we agreed to provide the funds within the timeframe. Our underwriting team and solicitors worked closely with the client’s solicitors to make it happen and we’re delighted that the development will now be completed as planned.”

Come one, come all to the Crystal Ball

Thursday 01 Feb 2018

Crystal Specialist Finance (CSF) celebrated their record 2017 financial performance at the Crystal Ball, the business’s first awards event created to recognise both industry peers and top employees.

The entertaining evening, which took place at the luxurious Belfry Hotel and Resort on January 25th, was attended by over 100 industry professionals, all keen to see who’ll lift an award while raising money for charity.

Cick here to view the evening's highlights in pictures!

Lender award winners in categories including Bridging, Buy-to-Let, Residential and Secured Loan Lenders of the Year included Foundation Home Loans, Masthaven Bank, Shawbrook Bank and Together. In addition, Jack Coombs of Aspen Bridging took Underwriter of the Year while Gavin Seaholme of Shawbrook Bank was selected as BDM of the Year.

Competition was also tough for the internal awards where Emma Burleigh received New Business Employee of the Year, Gavin Holmes won Support Staff Employee of the Year and Kamila Cholewicka secured Loan Manager of the Year. The big winner was David Parkes, who took the coveted Employee of the Year.

Main sponsors included Foundation Home Loans, Masthaven Bank and Together, award sponsors were Aspen Bridging, Landbay, MTF and Together with Amicus, Atom Bank and LendInvest also taking key roles.

Jo Breeden, managing director of CSF, said: “At the outset a big thank you to everyone involved, from our sponsors to the attendees to the staff at Crystal who pulled the night together. The main aim of the event was to celebrate with all of our close friends within the financial industry and beyond, and to create anticipation and excitement with a selection of awards that highlighted our gratitude to everyone who’s helped make us the successful business we are today.

“The fact remains that everyone is a winner in our eyes, especially local charity Simon’s Heroes for whom we raised a wonderful £700. Now onto 2018 and another fantastic year, where we will continue to work in close partnership with all people and businesses to ensure a great 12-months all round.”

Crystal Specialist Finance Reports Record Breaking 2017

Tuesday 16 Jan 2018

Company issues terms of almost £2.5bn with all key performance indicators showing huge rises

Crystal Specialist Finance (CSF) has reported a record breaking 2017 as the company continues its sharp upward growth trajectory with huge increases in key business performance indicators.

Acknowledged as one of the UK’s leading specialist finance distributors, the multi award winning company issued terms of £2.45bn, a rise of 26% on the previous year.

In addition the value of completions was up 54.9%, completion numbers up 44.8% and applications up by 23.9% compared to 2016.

CSF issued terms with 59 lenders and completed deals with 46, including both high street and challenger banks.

Deal highlights included a two-day bridging loan completion just before Christmas, a £2.2m bridging loan on a property in Ireland and a £430k completion on a case declined by several other lenders but ultimately placed with a mainstream bank.

Jo Breeden, Managing Director of CSF said: “The finance industry has had a challenging 12 months, with stamp duty changes and new PRA guidance changing the regulatory landscape. Above this there has been the well documented uncertainty in the economy post-Brexit, so we knew we needed to adapt to grow.

“Through a process of comprehensive education, both with staff internally and with brokers through our roadshows and marketing, we have been able to address these changes and position ourselves as true experts in our field and a go-to resource for brokers for their specialist finance cases.

“This hard work has been mirrored in our 2017 results, which are truly exceptional. We can categorically state that we are now one of the biggest specialist distributors in the UK, and we will continue to develop and expand our business so we continue to achieve year-on-year growth regardless of market conditions.”

CSF operates across five specialist divisions: Bridging, Commercial, Development Finance, Second Charge Loans and Specialist Mortgages. The business is open to applications on all types of properties in England, Scotland and Wales, with the company having access to over 70 lenders, including exclusive product lines.

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This website is for UK Mortgage Intermediaries only. As a mortgage is secured against your home or other property, it could be repossessed if you do not keep up the mortgage repayments. Think carefully before securing other debts against your home. Some types of buy-to-let and commercial mortgages and bridging loans are not regulated by the Financial Conduct Authority. Crystal Specialist Finance is a trading name of Crystal Mortgages Ltd. Authorised and regulated by the Financial Conduct Authority. Crystal Specialist Finance is entered on the Financial Services Register under reference 303761. Registered Address: Crystal Mortgages Ltd, Unit A Ventura House, Ventura Park Road, Tamworth, B78 3LZ. Registered in England and Wales Company no: 4407643.