Quantum Mortgages has hired Wes Friedel as head of bridging finance as the buy-to-let lender prepares for its entry into this market in the spring.
The specialist lender says Friedel joins from Impact Lending where he worked for two years, and was a key part of its move into senior bridging as head of risk.
Prior to that, he was head of credit origination at Propfin for three-and-a-half years.
Quantum, which launched in 2022, plans to launch its bridging range by April through a pilot scheme with a group of key specialist intermediaries and regular introducers, which it calls its disruptor club.
Its bridging loans “will mirror the lenders existing term proposition and provide certainty of decision and funding, along with a simple to use process”.
The product suite will include investment, minor refurbishment and semi-commercial loans in England, Wales and Northern Ireland, most of which will come with “a ready-made exit” through the firm’s BTL range.
Quantum Mortgages managing director Jason Neale says: “Having provided hundreds of bridging exits since we launched, it was obvious for us to look at whether we should be providing the initial short-term finance ourselves.
“We therefore spent a long time researching and studying the bridging sector and consulted with our key intermediary partners via our disruptor club.
“The message was clear — they wanted a more transparent, certain, and modern proposition with the common-sense approach they enjoy when placing term mortgages with us.”
Friedel adds: “I’m excited to be bringing a fresh and new proposition to the market, the team at Quantum have proved their intent in how fast we’ve made this happen.”
