Cambridge & Counties Bank has promoted Stephen Parr to the new role of head of bridging finance.
The bank said the new role was created to help meet demand for allocators Bridging Options.
In this new role, Barr will report to Jane Follis, Head of Real Estate Finance.
Barr will have the full support of Andrea Calverley, who joined the bank in March as senior lending officer.
Parr has worked at Cambridge & Counties Bank since 2020, first as a relationship manager and then, from January 2024, as a senior director of business development.
At Cambridge & Counties Bank, clients can access up to £5 million per property for commercial, residential or mixed-use assets over a maximum period of 24 months.
The new team’s main focus is interim financing solutions. This facility allows customers to transition to traditional long-term commercial real estate loans, including customized renovation loans, without interruption.
Barr said: “I am delighted to be working with Andrea and helping the bank capitalize on the increased demand for bridge loans at this important time.
“We have always offered bridging finance as a product but this has now become a more formal strategic focus for the bank, with our solutions benefiting from direct access to experienced staff, logical underwriting and a clear path to term – all designed to keep property transactions moving when timing is critical.”
“Bridging finance has evolved from a niche product to a forward-looking and supportive financing solution for flexible real estate opportunities,” said Willis. “While bridging is generally known for speed, its inherent ability to adapt coupled with a clear exit strategy has made it an increasingly sought-after product that suits all areas of the market.”
