Commercial mortgage lender 5D Finance has announced it is launching into Scotland, opening itself up to an extra 265,435 small to medium business.
Chief financial officer William Hodson says: “5D Finance is entering a period of sustained growth after a summer of intense activity. We have been able to launch in Scotland on the back of the outstanding success we have enjoyed in England. Not only have we launched our services north of the border, but we have also spent the last couple of months improving our systems, our documentation and the way we interact with packagers.
He adds: “We’re in the commercial market for the long term, and that demands we continue to price properly and underwrite sensibly, as well as originate large volumes of loans. The mortgage market as a whole has been re-evaluating risk in light of recent events in the credit markets. 5D Finance is no exception, and having reached agreement with our funders, we are repricing our product range.”
Chief operating officer Owen Espley says: “We are pleased with our new product range. We have listened to feedback from our intermediary partners and have improved the affordability criteria for both our investor and externally verified products. We have also taken the opportunity to simplify our CCJ credit criteria.
We believe that this is a very competitive offering and will be attractive to our customers”