Crystal Specialist Finance has announced a robust year of growth, with year-on-year completions up by 26% and ongoing enquiries rising by 31%.
The company’s growth can be attributed to investments in personnel, technology, and the increasing demand for its specialist finance services, assisting brokers in navigating the ever-evolving mortgage market.
Enquiries have surged across various divisions, including a 33% increase in bridging, a 20% rise in buy-to-let, and a 30% growth in commercial compared to the previous year.
The company’s headcount has also grown by 40% to 60, expanding sales and support functions to meet demand.
The growth can be traced back to several factors. Mortgage brokers diversifying their business models in 2023 has driven growth in key market sectors such as bridging, buy-to-let, and commercial finance. Brokers are increasingly recognizing the opportunities in these sectors under current market conditions.
Bridging offers a cost-effective, short-term lending solution that allows brokers to complete deals quickly and provides clients with breathing space while market conditions stabilise.
The buy-to-let market remains strong as portfolio landlords expand or diversify, taking advantage of the recent dip in property prices and the exit of ‘accidental’ landlords. Commercial lending is also growing as businesses seek to solidify their cash flow, maximize yields from commercial spaces, or purchase their business property.
Jo Breeden (pictured), MD of Crystal Specialist Finance, commented on the growth: “The business is delighted by our Q1 growth, which is a testament to our investment and focus on supporting our broker community and delivering the best outcomes for their clients.”
She added that Crystal sees 2023 as a year of possibilities rather than problems and is excited to see what the rest of the year will bring.
