Brickflow has recorded a record-breaking first quarter of 2024, demonstrating significant growth in loan searches, Decision In Principle (DIP) requests, platform usage and its largest loan completion to date.
Its largest loan was a £16.85m development finance deal completed by Purple Pepper Homes, for a development of 103 flats in Hastings.
The developer applied for the loan in partnership with their intermediary, using the Brickflow platform.
In addition to facilitating its biggest ever deal, Brickflow’s platform saw a staggering 2,966 loan searches in the first three months of the year, exceeding the total number of searches conducted for the entirety of 2023.
1,084 loan searches were conducted within just 31 days in March, while a total of 784 DIP requests were submitted through the platform.
During this time, Brickflow also welcomed 11 new lenders to the platform and secured its first exclusive rate for bridging finance with Hana Capital.
Ian Humphreys, CEO and founder at Brickflow, said the key factor behind such significant growth is a shift in market behaviour:
He added: “The CRE market is evolving and intermediaries, borrowers and even lenders are now realising that utilising technology to secure deals is key to staying competitive.
“Both adoption and usage are increasing as the market moves away from the archaic manual process for securing funding, to a new default behaviour; leveraging Brickflow to facilitate increased efficiency, connectivity and communication.”
