Short-term commercial lender launches in Wales

Cornerstone Capital, a privately funded commercial lender, will service initially a 60-mile radius from its Cardiff Gate Business Park headquarters.

Cornerstone Capital, part of The Cornerstone Finance Group, will be advancing short-term bridging loans ranging between £25,000 and £250,000, 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.

Launched in 2016, Cornerstone Finance Group provides independent financial advice covering a range of areas including residential mortgages, bridging loans and property development finance.

CEO of 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, chief commercial officer of Cornerstone Capital, 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."