Cambridge & Counties Bank has announced the promotion of James Parr to head of bridging finance, a strategic move that underscores the bank’s commitment to enhancing its bridging finance offerings. This change is significant for landlords and property investors seeking flexible financing options, as it positions the bank to better serve clients looking for quick access to funds.
Who is James Parr?
James Parr has been with Cambridge & Counties Bank since 2020, initially serving as a relationship manager before advancing to senior business development manager in January 2024. His experience within the bank equips him with a deep understanding of client needs, which is essential for leading the bridging finance sector.
What is Bridging Finance?
Bridging finance is a short-term loan option that provides quick access to funds, often used by property investors and landlords. At Cambridge & Counties Bank, clients can secure financing of up to £5 million for various property types, including commercial, residential, or mixed-use assets, over a maximum term of 24 months. This flexibility is particularly beneficial for those looking to seize investment opportunities swiftly.
What this means for landlords and property investors
The promotion of Parr is expected to enhance the bank’s bridging finance services, making it easier for landlords and property investors to access necessary funding. With Andrea Calverley, a senior lending officer who joined the bank in March, supporting Parr, clients can anticipate a more robust service tailored to their financing needs. This could lead to quicker decision-making and improved client support, ultimately benefiting those looking to invest in property.
Frequently asked questions
What types of properties can I finance with bridging loans?
You can finance commercial, residential, or mixed-use properties with bridging loans from Cambridge & Counties Bank.
How long can I borrow bridging finance for?
Bridging finance at Cambridge & Counties Bank is available for a maximum term of 24 months.