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Brightstar has launched a division to deal with the surge in demand for development finance.

The specialist distributor says it has seen a big upswing in enquiries from brokers seeking development finance and has therefore launched a specialist division to service these.

It will be headed up by Rob Collins, who runs the commercial team, and founding director Kit Thompson, who runs the bridging division.

Collins and Thompson will be supported by three other team members.

Collins says: “The development finance sector has moved on a great deal in recent months with new lenders with new propositions appearing almost weekly. The fast changing nature of the market and the increase in demand has created the need for a dedicated Brightstar division to provide a specialist point of contact.

“Development finance is a very specific niche. It takes a specific type of lender to lend on a full scale development and real problems can arise if a client borrows money from a lender that really does not understand what is involved in a full blown development project.

“The expertise of the Brightstar development finance division will ensure that brokers always have access to the best lender and product for their client’s individual circumstances.”