The Intermediary - The Interview with Marios Theophanous, Credit Manager at London Credit

The Intermediary speaks to Marios Theophanous, Credit Manager at London Credit, about the outlook for bridging finance.

To begin with, can you tell us a bit about London Credit?

London Credit has been a trusted name in the bridging finance sector for nearly 15 years. We have a reputation for consistent and reliable funding, and we always deliver on our promises. Our commitment to improving our products and services is unwavering, ensuring that we remain a top choice for brokers and investors alike. Currently, we provide bridging loans from £100k to £3.5m on residential, commercial, and semi-commercial properties in London, the South East, and major cities with terms from three to 18 months.

How do you see the current market for bridging finance?

We are very positive about the second half of 2024 and beyond. There are many reasons to be optimistic. We’ve just seen the first cut to the Bank of England Base Rate in four years and can hopefully look forward to a period of political stability following the general election at the beginning of July. I think the whole lending industry experienced a bit of a lull in the lead up to the election as people held off committing to purchases or making decisions ahead of the result. Now, we have seen a return to activity and, with housing firmly at the front and centre of the new government’s policies, we think there are going to be many opportunities for property investors to help deliver the additional housing that the country needs.

Bridging is a competitive space, why should brokers think about London Credit for their clients in this environment?

When the market is picking up, lender service is key to ensure that property investors don’t miss out on opportunities. We pride ourselves on delivering outstanding service and we’ve been working hard to ensure that we continue to enhance our proposition in this area. In the last year we have reduced the average time between application and drawdown by a third – and this is during a period when average transaction times have been getting longer. Alongside this, we are continuing to evolve and expand our proposition so that we are able to serve a wider range of client needs.

What are London Credit’s future plans?

We are excited about our future plans which include expanding into development finance later this year. We’ve recently strengthened our team with key hires, including a new Head of Development Finance and two Senior Business Development Managers. This expansion will allow us to offer more comprehensive services and cater to a broader range of client needs. We’re also focused on continuing to reduce turnaround times and improving our service offerings to deliver even greater value to our clients.

As published on https://theintermediary.co.uk/2024/08/the-interview-marios-theophanous-credit-manager-at-london-credit/