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Commercial Credit News
|Brightstar launches Development Finance Division|
|Wednesday, 21 October 2015|
Brightstar has launched a new division to deal with the growing demand for development finance. The aim of the division is to help brokers with specialist support for all of their developer clients.
Brightstar has seen such a huge upswing in enquiries from brokers seeking help on development finance that it identified the need for a dedicated Brightstar division to provide a dedicated point of contact for specialist advice.
At the same time new lenders are entering the sector all of the time, with innovative product offerings from both new and existing lenders, so funding is now available from mainstream banks, merchant and investment banks, private lenders and specialist investment funds.
Brightstar’s Development Finance Division will be headed up jointly by Rob Collins and Kit Thompson. Rob Collins, who also runs the commercial team at Brightstar, has many years of development experience both as a broker and in previous lending roles; while Kit Thompson, one of the founders of Brightstar, is also director of its bridging division and has spend the last 15 years working primarily with professional property developers and investors.
Kit and Rob will be supported by three other team members, all of whom are experienced in the development finance market.
Rob Collins, says, “There has been a significant increase in the number of brokers in need of help with development finance cases. The development finance sector has moved on a great deal in recent months with new lenders with new propositions appearing almost weekly. The fast changing nature of the market and the increase in demand has created the need for a dedicated Brightstar division to provide a specialist point of contact.
“Development finance is a very specific niche. It takes a specific type of lender to lend on a full scale development and real problems can arise if a client borrows money from a lender that really does not understand what is involved in a full blown development project. The expertise of the Brightstar development finance division will ensure that brokers always have access to the best lender and product for their client’s individual circumstances.”
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