Mayfair Bridging has seen an improved quality in the enquiries it received. Bux said,” I think brokers and clients alike now understand the lack of viable exit routes especially on commercial property lending.”

Mayfair Bridging has applied to the FSA to become regulated which would enable the lender to give loans to owner occupied property. Shoaib Bux said,”Our recent months we have seen a large shift towards clients wanting bridging loans on owner-occupied property. These deals usually have a low ltv and we aim to capture this part of the market. FSA regulation also enables us to continue trading should buy-to-let lending becomes a regulated activity.”

Mayfair Bridging’s 1% per month rate has been met with considerable demand. Shoaib Bux said, ”Although we are taking a cautious view to underwriting, low ltvs deals are being rewarded with lower rates. This ensures we get the right quality of business and it strengthens our loan book.”