Daniel Hornblow

ADD Capital Finance sees business surge after securing FCA authorisation

ADD Capital Finance has revealed that FCA authorisation will enable it to arrange £3.5m in loans in October, 50% of the total amount it has brokered so far this year.

The master broker for development, bridging and commercial finance has facilitated £7m in the year to date.

ADD Capital Finance — which received FCA authorisation in August — relaunched in November 2018, having originally opened for business in 2008 but had to wind it down when the recession hit. 

In an exclusive interview with Bridging & Commercial, Daniel Hornblow, director at ADD Capital Finance (pictured above), claimed: “…By becoming fully FCA approved, it's allowed us to expand our product range, which now gives our introducers and our direct clients access to second charge mortgages and regulated bridging, which also allows us to give the full advice to the client.

“…We're seeing an increase in introducers coming back to us because of the FCA licence and the fact that we can now give the full advice on their behalf … that's really helped us with our level of enquires.”

Daniel stated that ADD Capital Finance was now seeing around “three to five” new enquires a day.

“We've got new relationships coming in daily now since we've been approved by the FCA, so we're mainly growing out our second charge mortgage provider offering and our regulated bridging provider offering,” he explained.

ADD Capital Finance has just taken Paragon on as a second charge mortgage provider and Harpenden Building Society to offer its regulated bridging products.

“[This] now opens up regulated bridging, self-build mortgages, first-time developers, guarantor mortgages [and] lifetime mortgages.” 

Daniel stated that the master broker could now offer products that it “hadn’t even thought of exploring”.

ADD Capital Finance recently added Masthaven, Funding Circle, Lending Crowd and 1st Stop Home Loans to its lender panel.

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