The lender entered the bridging market in March 2022 and has ambitions to grow into yet more sectors in the year ahead.

Since Andrew invested in the business, it has tripled staff numbers and quadrupled monthly loan completions.

In addition, the company has plans to expand into ground-up development finance later this year and first-charge BTL in 2024, and will soon be announcing a number of new hires.

This follows the appointment of Owen who joined the company in March this year.

“To get Owen on board is just fantastic,” said Jim. “People know his expertise and go to him because he's a trusted person — and that's what we're building within the business.”

Owen stated the finance provider’s positive, can-do attitude was something that encouraged him to join: “I've been in places [that were] very rigid on criteria, volume and process [. . .] but the mindset [here] is wide open, and this is something I can invest in personally. The bit I love is getting into the nitty gritty of deals and making [them] work — bridging is all about common sense,” he explained.

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In addition to bringing on board industry-trusted experts, Spring’s core staff — which Jim described as being full of experience — understand the need to nurture new talent to develop and grow. “When we’re recruiting, it’s not just about [welcoming] established people, but also bringing new blood through the people who’ve got the right personalities and skill set, and developing them,” Jim explained.

Pleased with how the lender’s performance in bridging has gone so far, Jim anticipates an “exciting future” over the next 12 months, considering the funding sat behind the business and the expertise of Andrew and the wider team.

In May, B&C announced that former CEO Gavin Diamond left Spring, and Andrew has since rolled up his sleeves to take over the role and, according to Jim, is enjoying being operational again three years after being part of the senior leadership team at Masthaven Bank, which he founded.

“Andrew is confident that, over time, he can create the same success for Spring,” continued Jim.
“We know what the building blocks look like.”

Looking forward, Jim believes there are plenty of opportunities in the market and, given the current economic state, the specialist lending sector is “really coming to the fore”.

“With the cost of living crisis and the nature of how bridging funding can be used, it's not just about chain breaking — it's a cashflow product. The specialist bridging space is huge, and there is enough opportunity over the coming year to achieve [our] growth plans in the wider market.”