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Brightstar to expand on 187% secured surge
Brightstar Financial has announced record increases in its secured division, as the packager looks to widen its presence within the sector.
Brightstar Financial, widely regarded as one of the biggest packagers within the consumer and commercial credit spectrum has seen a 187 per cent increase in written cases in 2013, compared to the whole of 2012.
Additionally, completed cases also rose substantially, with the team recording a 167 per cent increase on completions in just the nine months of this year alone.
As the packager continues to round off its complete solution ethos, Bradley Moore and his team have reiterated their dedication to the second charge industry, including an exclusive offering to be announced within the next few weeks.
Benefitting from its wealth of connections via its first charge, commercial and bridging sectors, the secured arm utilises these contacts to transfer business from the other sectors.
Analysing the importance of its secured arm, Bradley Moore, Director at Brightstar and the man responsible for the secured lending operations, said: “The secured loan part of our business is fundamental to us and ensures that we offer the “complete solution” to our clients and introducers with our 4 core areas, secured loans, commercial and bridging finance and specialist 1st charges”
Interestingly, Brightstar claims that its average loan size is often in the six figure region, as opposed to what many consider to be a small ticket sector.
Appropriately, this coincides with the work that was done when Prestige Finance began its Large Loan product, a product piloted by those at Brightstar.
Moving forward, the packager hopes to open up its successful and boutique platform to the larger market, with new hires and exclusive product offerings that will cater to the more mainstream secured lending clientele.
In just three years, the entire business has grown to a team of 20, with the company moving into new offices at the end of the year, to coincide with the expansion of the team.
By Ian Walker
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