<
p>Lending in Scotland got a much-needed boost last month, as yet another lender joined the panel of the Glasgow Property Professionals for another ‘Dragons’ Den’-style event.
Bridging Loans Ltd was invited to participate on the Expert Lender Panel at the latest Glasgow Property Professionals (GPP) forum, which sees property professionals pitching funding opportunities to the expert lender panel.
The event aims to bring together a panel of active funders and investors looking for opportunities within the sector. The investors and other professionals in the audience are given the opportunity to run existing cases past the members of the panel, to gauge the lenders' level of interest in the particular scenarios.
At the event, held at The Corinthian Club in Glasgow last month, David Levitus of Bridging Loans Ltd, Laurence Goodman of Bridgebank Capital and Simon Ismail of Goldentree Financial Services competed to offer the best interest rates and LTVs to the prospective borrowers.
Speaking on the importance of events such as this, and the effect of having more and more names from the lending industry on board, Mark Antscherl, Founder of Glasgow/UK Property Professionals, said: “The GPP is pioneering the alternative finance sector in Scotland, where the most important part of the role is to educate property professionals with the different funding models that are available.”
“The event was a huge success –and very well attended from quality professionals”
The CEO of Bridging Loans Ltd was approached by GPP founder Mark Antscherl to join the Expert Lender panel, despite Bridging Loans Ltd conducting the majority of its bridging and development funding in England.
David however, believes there are still plenty of property projects and investment opportunities in Scotland, primarily within the Central Belt area, which incorporates Glasgow and Edinburgh.
Speaking about the event, David Levitus, said: "Because the vast majority of lenders in the bridging and development finance sector are English companies concentrating on funding property projects in England, there is a misconception among Scottish property entrepreneurs that there is a lack of funding in the Scottish market. Even GPP's own website states that 'funding continues to be a key area of frustration and concern for professionals working in Glasgow's property market'.”
“To a certain extent GPP's statement is true, in that the majority of Scottish cases where we have provided funding are situated in and around Edinburgh and the east coast of Scotland, all the way up to Aberdeen where the economy is extremely buoyant due to the ever expanding oil industry. However, for some reason Glasgow, the industrial capital of Scotland, tends to be forgotten."
The Glasgow and London Property Professional groups have proven incredibly successful amongst would-be entrepreneurs and established professionals. On Wednesday, Mark holds his 100th event within the sector, and has an array of plans for the summer to support the growth of the property market, and those that stimulate its progression.
Lending in Scotland got a much-needed boost last month, as yet another lender joined the panel of the Glasgow Property Professionals for another 'Dragons' Den'-style event.
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