2020 was a complex year for everyone, as no one could’ve predicted what took place. But despite the challenges faced, we were fortunate enough to launch Velocity Bridging as a brand and we were able to support some new clients with our fast, flexible bridging loans.
Following on from the momentous events that took place in 2020, we are eager to kick off the new year as we already have a great deal planned in for 2021 and the years to follow.
Want to find out what we have scheduled in for the future? Read what our Commercial Manager Matthew Gammond had to say about what’s in store for Velocity Bridging:
Has Velocity grown in the last few months?
We officially launched Velocity Bridging in October last year. Launching a new lender can be tough in this competitive market but our USP of being able to complete cases in three working days really set us apart.
We had our first enquiry shortly after we launched and we fulfilled the three day promise and demonstrated to borrowers and brokers alike that our concept works.
We’ve got a big marketing campaign behind the company which I’m sure will pay dividends in the coming months.
What plans do you have for Velocity in 2021?
We have the full weight of our private funding behind Velocity with a management team that has decades’ worth of experience in the sector. We’re going to leverage this to carve out a niche in the market and spread the word that the three day completion is possible, even in 2021.
Depending on how things go we may look to expand the team and our product suite, but let’s see!
Do you think the complications around Covid-19 and the lockdown will help or hinder business in 2021?
The coronavirus pandemic has been difficult for everyone. As long as lockdown restrictions remain in place I do believe that our industry will slow down as it has done over the last nine months. There may be new restrictions for lenders who utilise institutional funding which can cause all kinds of problems with huge swathes of the market lowering LTVs, increasing rates and being more strict with their underwriting.
Luckily we benefit from an extremely flexible private funding line which should help us plough through most of what Covid-19 can throw at us.
Where do you expect to see Velocity in five years?
I expect that Velocity will be the name in fast, flexible bridging and we will have a huge and successful track record of helping borrowers who find themselves in an incredibly tight spot.
Our mission is to bring the true element of speed back to bridging and I’m hoping that we will have achieved that mission in 2026.
What is the team most looking forward to in 2021?
We want to get stuck into as many cases as we can and continue to fulfil our three day promise.
The best thing about bridging is that every day brings with it something new and I’m really excited to tackle whichever conundrum hits my desk next!