Specialist debt advisory Hallcroft Finance has seen its private offering division secure more than £3m of mortgage approvals in its first month — roughly half of which were for BTL.
At the start of March, the brokerage appointed Andrew Hardcastle (pictured above) as director to set up the new department and head up its office in Leeds.
He joined the private division — which mainly focuses on BTL, including HMO and MUF finance in both personal names and limited companies — from a local family business in the area where he was a mortgage broker.
During his career, Andrew has worked at National Australia Group and Handelsbanken, where he built a portfolio of high-net-worth clients.
Commenting on his new role, Andrew said: “After an enjoyable time working as a broker, I began to see the opportunities available if I could establish a business of my own.
“I’ve known Adrian [Cormican, director at Halcroft Finance] for a number of years, and I’ve always spoken to him about career choices; he’s been a great sounding board.
“During these discussions, it became apparent that what I can offer would complement the existing services provided by Hallcroft Finance.
“Additionally, the appeal of joining an established brand with a strong presence was clear to see.
“With the developers that Hallcroft holds existing relationships with, there is an immediate opportunity [for me] to provide guidance on BTLs for properties which they may wish to keep hold of moving forward.
“[I can also offer] alternative funding options to clients through various products, including regulated bridging finance, residential mortgages and second-charge mortgages — all different ways to raise capital to inject into deals.”
Andrew will provide clients with advice on all aspects of personal finance and protection requirements.
There is also an opportunity for the division to offer term debt services for when borrowers don’t want to exit development finance loans via sale.
Business and debt protection, key person cover, and life and shareholder protection also come under the private offering, as well as residential mortgages and home and landlord insurance.
“The obvious and immediate area to explore is the BTL opportunities that exist within the client base and maximise any opportunities from my existing clients [that I can] refer,” added Andrew.
“While developing the business will be the long-term aim, providing a great service to clients new and old is never going to be compromised.”
