Cambridge & Counties Bank has created a dedicated head of bridging finance role and promoted Stephen Parr to lead the function as it responds to growing demand for short-term property finance.
Parr (pictured), who joined the specialist lender in 2020, will report to Jayne Follows, head of real estate finance, and will lead the bank’s bridging proposition as part of a more formal strategic focus on the sector.
The move comes as the bank seeks to expand its presence in the bridging market, where it has identified increasing demand from professional property investors for short-term funding solutions.
Parr joined Cambridge & Counties Bank as a relationship manager before becoming senior business development manager in January 2024. He will work alongside Andrea Calverley, who joined the bank in March as a senior lending officer.
Calverley has more than 25 years of industry experience and previously held relationship management and business development positions at Recognise Bank, Assetz Capital and Nationwide.
The bank said the creation of a dedicated bridging finance team would provide customers with specialist support and expertise.
Cambridge & Counties Bank offers bridging loans of up to £5 million per property across commercial, residential and mixed-use assets, with terms of up to 24 months.
A key area of growth for the lender has been bridge-to-term finance, which allows borrowers to move from short-term funding onto longer-term commercial real estate facilities, including refurbishment loans.
Parr says: “I’m delighted to be working with Andrea and helping the bank capitalise on heightened demand for bridging loans at this key time.
“We have always offered bridging finance as a product but this has now become a more formal, strategic focus for the bank, with our solutions capitalising on direct access to experienced staff, common-sense underwriting and a clear route to term – all designed to keep property transactions moving when timing is critical.”
Follows adds: “Bridging finance has developed from a niche product to a forward-looking, supportive funding answer to flexible property opportunities.
“While bridging is commonly known for speed, its inherent adaptability along with a clear exit strategy has made it an increasingly in-demand product which appeals to all areas of the market.”
