It also formed a team that focuses on offering the bridging products
Following the creation of its new bridging team, Hampshire Trust Bank (HTB) has relaunched into the bridging market with an overhauled product offering.
HTB said the new team is in place to provide a bridging-focused proposition. The team will be led by Jamie Jolly (pictured), who will be supported by specific BDMs, underwriters, valuers, solicitors, and portfolio teams.
Jolly, who recently joined the bank as director of bridging, has over 20 years of experience in the market. He was most recently the managing director at bridging lender SoMo. He was also part of the team that built and launched Revverbank, and was previously head of commercial at Together for 15 years.
Key features of HTB’s bridging proposition include loans up to £25 million; all refurbishment projects (from light to heavy); discounted purchase transactions; second charges accepted as additional security; loan term up to 24 months; residential, commercial, and mixed-use security; and maximum loan-to-value up to 75% of market value.
“HTB has built a great reputation across specialist mortgages and development finance, but we’ve never quite cracked the bridging market,” Jamie Jolly, head of bridging at Hampshire Trust Bank, commented. “We have taken some time to think about what we need to do and how we need to do it.
“What is clear is that a bridging lender can’t be successful when done off the side of the desk. What we are now offering isn’t a bolt-on or ring-fenced part of an existing team – it is an experienced team solely focused on providing bridging solutions and service to the broker market.”
Jolly added that, as a team, they understand the need for simplicity and strong lines of communication.
“We put all deals in front of decision makers within hours of receiving the enquiry,” he said. “We aim to marry competitive products and criteria with award-winning service, and have a team littered with experience, knowledge, and a firm grasp on the market to deliver this.”