Backed by ultra high-net-worth private individuals, Elysium Bridging plans to lend over £25m within its first year.
The short-term property lending business is headed up by ex-HBOS adviser Paul Gammond, Cheval co-founder David Gammond, former commercial finance broker Leigh Goodman and chartered accountant Nathan Romburgh.
Paul Gammond, CEO of Elyisum Bridging
Paul, CEO of Elysium Bridging, said that any client introduced to it by a broker would remain that broker’s client for life and will therefore receive repeat commission if the client returns for another loan.
“We could see that the bridging market was seriously in need of a new principal lender that could properly service the needs of the commercial finance broker market.
“We will offer brokers some of the best terms in the marketplace and a vastly improved user experience.
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“We intend to offer a far more personal service than most of our competitors can offer and because our funding is private we can work with clients and their brokers to really make the deals happen.”
David Gammond, consultant at Elysium Bridging
Elysium has raised an initial tranche of £5m with substantial further funding available once the initial drawdown facility has been used.
The lender’s core offering includes first charge short-term commercial property loans with up to 70% LTV nationwide – including Scotland.
Elysium also claims to offer some of the lowest legal fees in the sector and all interest is calculated on a daily basis.
Leigh Goodman, non-executive director at Elysium Bridging
“Elysium has extensive private funding and [plans] on developing and offering some highly innovative products in to the property-lending market over the coming months,” added Leigh, non-executive director of Elysium Bridging.
“Having been a broker for many years myself in the past, I know only too well what a broker looks for in a reliable and trustworthy lender.”
Nathan Romburgh, finance director at Elysium Bridging
Any brokers and packagers wanting to work with Elysium across the UK can contact Paul Gammond directly on 07500 959 596 or by email at firstname.lastname@example.org.