Cambridge & Counties Bank has announced the promotion of Stephen Parr to head of bridging finance, a role that is expected to enhance the bank’s offerings in this sector. Parr, who has been with the bank since 2020, will lead a team that aims to provide clients with access to significant funding for various property types.
Who is Stephen Parr?
Stephen Parr has been a part of Cambridge & Counties Bank since 2020, initially serving as a relationship manager before advancing to senior business development manager in January 2024. His extensive experience in the bank positions him well to lead the bridging finance division, where he will focus on streamlining processes and enhancing client relationships.
What is Bridging Finance?
Bridging finance is a short-term loan option that enables borrowers to access funds quickly, typically for property purchases or renovations. At Cambridge & Counties Bank, clients can secure loans of up to £5 million for commercial, residential, or mixed-use properties, with terms lasting a maximum of 24 months. This flexibility makes bridging finance an appealing choice for landlords, investors, and property developers looking to seize opportunities in the market.
What This Means for Borrowers and Investors
With Parr at the helm, borrowers and investors can expect a more focused approach to bridging finance at Cambridge & Counties Bank. This could lead to quicker decision-making and a more tailored service, which is essential in a fast-paced property market. Investors looking to finance property acquisitions or renovations may find this a beneficial time to engage with the bank’s offerings.
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 much can I borrow with bridging finance?
Borrowers can access up to £5 million per property through bridging finance at Cambridge & Counties Bank.