Brickflow expands into bridging loans

Property development finance marketplace Brickflow has expanded its offering to include bridging loans for the first time.

The products will initially be offered exclusively to the company’s Enterprise customers. Borrowers can search for the best bridging deals across more than 40 of Brickflow’s partner firms.

These partners include P2P property lenders CrowdProperty and Invest & Fund.

Read more: Brickflow partners with broker trade body

“This is the first time brokers have been able to compare and apply for bridging finance using one digital platform, so it’s another important step towards making the borrowing process quicker, easier and more accessible for brokers and their clients,” said Ian Humphreys, chief executive and founder of Brickflow.

Prospective borrowers can use the Brickflow marketplace to browse suitable lenders and receive a same day Decision in Principle. This is a service that “simply doesn’t exist elsewhere,” Brickflow said.

Read more: Brickflow launched embedded finance solution for commercial property

“We’re therefore taking a phased approach to adding bridging finance to the platform, to ensure we provide the best possible experience for our Enterprise customers,” the platform noted.

“The first phase, which is now live is pre-construction bridging finance, which offers the necessary liquidity to purchase a site, acquire planning and finalise development details before moving on to the construction phase.”

The platform added that it plans to launch bridging loans for purchase or refinance, refurbishment and post-construction in the coming months.

Read more: Brickflow partners with FIBA