Richmond Financial Services was established in January 1985 operating in the Financial Services Market as independent financial advisors. In the late 1980’s we became involved in the residential mortgage market and this became our area of expertise during the 1990’s and beyond.
Bridging Loans
As a consequence of our exposure to the mortgage market as a broker, we became involved in arranging short term bridging loans and this proved an area of particular interest, to the extent that we decided to become involved to a greater degree by lending our own capital.
Richmond Securities was established in 1999 specifically to provide short term bridging finance using our own capital. We developed into this area of the market, able to provide a quick and personal service to our customers as we designed our own products, assessed the applications, issued the loan documentation and provided the funds. After several years trading successfully with our own capital, we were able to expand our business levels by utilising a multi-million pound credit facility with a JV partner lender.
Property Development Finance
The provision of short term bridging loans led to enquiries from property developers and builders in connection with both new build and refurbishment projects. We began assisting with some of these enquiries and over a period of several years we developed a product range to meet the various needs of the sector. Having established that this was a market we wished to become more heavily involved in and having developed some knowledge, expertise and experience we began to operate more consistently in the sector, able to assist with small developments typically of the new build of 1-4 units.
2011 and onwards Today we specialise exclusively in the small development finance sector and continue to seek new enquiries. The banks are still not lending in this market and as long as that continues then the demand for development finance will exceed supply. Although we look to fund as many deals as possible from our own resources, there are often enquiries that we are unable to accommodate on our own lending book. However where this is the case, in order to assist our customers we have developed a close working relationship with a number of other lenders operating in this market, and we actively place deals with our lending panel.
