The Cornerstone Finance Group has launched a new financial service focused on providing short-term lending to investors and property developers exclusively in Wales.
Cornerstone Capital, a privately funded commercial lender, will service initially a 60-mile radius from its Cardiff Gate Business Park headquarters and is designed to offer short-term lending loans to property developers and private investors, as they support regeneration and growth of the Welsh economy.
Cornerstone Capital, part of The Cornerstone Finance Group, seeks to unlock the potential for Welsh professionals through property improvements and investment and will focus on a gap in the Welsh market. Cornerstone Capital will be advancing short-term bridging loans ranging between £25k and £250k, with funds made available within 30 days of application.
Cornerstone Capital has been launched by Gareth Morgan and Haydn Thomas, both board members of the Cornerstone Finance Group. The addition of Cornerstone Capital to the wider Cornerstone Finance Group portfolio will allow clients to benefit from the full range of financial services, from initial application through to funds being transferred.
Commenting on the launch Chief Executive Officer for Cornerstone Capital, Haydn Thomas, said:
“In the current climate there is a strong demand for property and the market is buoyant, with investors and developers looking at vast refurbishment and development opportunities here in Wales.
“This, in turn, means that we are currently seeing demand for short-term lending at a three-year high post-Covid, with it showing no sign of slowing.
“Our business will bridge the gap in the Welsh market, plugging the demand for short-term loans, enabling property developers to further support the regeneration of areas in Wales, whilst helping the Welsh economy bounce back from the effects of the pandemic.”
Gareth Morgan, Director of The Cornerstone Finance Group, added:
“We are delighted to be launching Cornerstone Capital and look forward to helping many development projects get off the ground.
“As part of the Cornerstone Finance Group, we have access to the full spectrum of financial services to benefit our clients and help aid the recovery of Wales.
“Over the past four years, we have worked hard to grow the Cornerstone Group within Wales and this new venture will harness our ambitions to be a major employer in the area, whilst continuing to see more funds invested in development projects across the country.”
Earlier this year Cornerstone Finance Group announced its aim to achieve a turnover in excess of £3m, by providing independent financial advice covering a range of areas including residential mortgages, bridging loans and property development finance. Launched in 2016 it currently employs more than 65 staff and associates from its Cardiff Gate headquarters.