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.