The lender saw a record £72m in new facilities during the quarter, up 16% compared to Q1 2025.

Working capital and bridging finance reported strong new business of £18m and £27m respectively, with asset finance also delivering £27m in new business.

The business is preparing to announce updates to its bridging and asset finance propositions, aimed at increasing lending capability and supporting introducers.

Ultimate Finance has confirmed that managing director Andrew Ribbins will retire at the end of April 2026, following 16 years with the business.

Josh Levy, CEO at Ultimate Finance (pictured above), said: “I want to recognise Andrew’s immense contribution to Ultimate Finance.

•   The Finance Professional Show 2025: The Video
•   Ultimate Finance's loan book hit record £393m in 2025
•   Ultimate Finance sees 'untapped demand', targeting £400m milestone and bridging growth

“Over 16 years he established our asset finance business and helped shape it into the strong operation it is today. His impact has been significant, and his biggest legacy will be the people he’s supported along the way.”

Simon Gregory will become head of asset finance, moving from his current leadership of the operations team. He will work alongside Paul Hansen, who was appointed sales director last year, with the pair continuing to develop the lender’s asset finance proposition.

Liam Cavanagh continues as head of bridging finance, while Lawrence Wood and John Lightfoot will see their roles in working capital evolve.

Lawrence will lead working capital origination, working with sales directors Michael Beer and Nick Haggitt, while John will lead working capital portfolio management.

Josh added: “Passing the £400m loan book milestone in Q1 is a powerful vote of confidence from the introducers who trust Ultimate Finance, and a reflection of the consistent performance of our teams across asset finance, bridging finance and working capital.”