The steady growth of Bricks continues, and in fact it will be a record year for new investment, with over £8M of new funds committed by investors to us this year.
The loan book is approaching £30M, spread over 49 different loans. We are pleased to have helped people to buy their dream homes, secure their business premises, and renovate or build new houses.
Where we are funding houses for sale, prices are strong and developments are selling quickly. However, where projects are being refinanced onto longer term cheaper loans, to be kept in rental portfolios, the refinancing is taking longer. This is not necessarily bad as we then benefit from having a loan with all the development risk removed and a clear exit.
There is still good demand for bridging loans and we aim to keep a sensible balance between development and bridging loans, as it helps manage both risk and cash flow effectively.
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Experience, standing by you
Founded in 2014 with over 90 years of combined property, finance and legal expertise, the Bricks Finance team help local people to access finance easily and quickly by offering bespoke lending using their own funds as well as those from investors.
