Major boost in Q1 enquiries for Provide Finance Mortgage Finance Gazette

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Provide Finance has seen a 60% uplift in enquiries in first quarter 2023 after launching a year ago.

The platform has processed nearly £40m of specialist finance applications and is growing quickly, with a 50% increase in the number of brokers using Provide in the last six months.

Data from the platform show that the most popular form of business finance in the last 12 months has been short-term loans, accounting for 55% of all business finance enquiries.

The most popular areas of specialist finance have been commercial and buy to let term mortgages, each accounting for 30% of all property enquiries.

Provide Finance is free to use, allowing brokers to research the best lending solution for their clients, submit enquiries and make applications.

The platform features a panel of more than 200 lenders that specialise in commercial mortgages, mortgages for residential investment properties, bridging finance, property development and refurbishments, HMO lending and business finance.

Provide also has a team of advisers on hand to offer help either over the phone or using the online chat facility.

Provide Finance founder Miranda Khadr points out that the last six months have been particularly challenging for brokers as many lenders have contracted their lending appetite, making it harder to source the right solutions for their clients.

“Provide has developed a solution for this – giving brokers access to a much wider range of lenders than they might ordinarily consider and making it easier for them to secure the best terms on a deal,” she says.