Shawbrook Bank has revealed plans to incorporate regulated bridging into its short-term loan proposition.
Karen Bennett, commercial sales and marketing director at Shawbrook, said: “Following our success in the short-term lending space, a natural progression would be a consumer-led regulated bridging element to the business to provide more traditional finance solutions for things like chain breaks.
“This is something that has been spoken about at length and we are currently looking at ways to incorporate this to our existing offering – no easy task given the regulatory considerations and various systems challenges.”
Bennett also revealed that the lender is considering a move into development finance.
She said while the lender has “no firm plans” at present, development finance is an obvious gap in its commercial loan portfolio.
She said: “Development finance is a market that we are considering although there are no immediate plans to enter.”
Read the full interview with Karen Bennett in this month’s Bridging Introducer.