Adapt Completes £1m A Day In February

Adapt Finance completed £29.4m worth of deals last month, equating to more than £1m a day.

The broker has now completed almost one-third of its annual lending target in just two months.

Stephen Burns of Adapt told Development Finance Today: “We must give thanks to the lenders who have supported both us and our clients with challenging proposals.

“Add to that the valuers and lawyers who have proved they can work as a team in order to complete transactions in a timely manner, without foregoing quality, service, or due diligence.

“March will be equally as mind-blowing and our biggest target is now not to slow down, as although our target will be reached sooner than expected, we see no reason not to re-set the target and go again,” added Jordan McBriar.

The extra day in the leap year helped Adapt to notch up a record month with the broker closing a £4m deal with less than an hour to go on February 29th.

Adapt conducts 80% of its business in London and the Home Counties and attributed some of its success to lenders who have continued to lend on Permitted Development deals despite uncertainty over its extension.

Read more at Development Finance Today