Matthew Anderson, pictured, has joined West Country bridging lender Bath & West as commercial director. Anderson has over 25 years’ experience in the bridging and development finance markets, formerly heading up development lending at Amicus Finance and prior to that, at Fincorp.
Anderson took the decision to join former colleague Martyn Smith at Bath & West Finance.
As well as his involvement in the business’s day-to-day lending, Anderson will also assist in developing relationships with all stakeholders in the business to facilitate the company’s ambitious growth plans.
‘The bridging and development market has undergone some significant change in the past year or so. Increasingly fierce competition and a surplus of funding from private equity has flooded the market with money, resulting in a number of high-profile casualties.
‘But I’ve been around this sector for more than 25 years and have ridden out a number of downturns - largely because experience and judgement are critical to good lending in any market. Knowing when to say no is more important than saying yes at any cost.
‘I chose to take on the Bath & West role because they value experience and judgement, understanding that there are good deals to be done – particularly outside of London in the M4 corridor and down to the south coast – but that getting the terms right so they work for both investors and developers is key.
‘I’m very much looking forward to working with Martyn and the team to help deliver this.’
Smith, founder of Bath & West, added:
‘Matt has long been involved with our business, working closely with us during his time at Fincorp several years ago.
‘His experience and hands on approach to managing deals – both before funding is approved and during development – is crucial to maintaining a robust loan book, something we value highly. In addition, his contacts across the short-term lending industry will be invaluable as we continue to grow the business.’