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 the demand for dedicated bridging options.
In this new role, Parr will report to Jayne Follows, head of real estate finance.
Parr will be fully supported by Andrea Calverley, who joined the bank in March as a senior lending officer.
Parr has been working at Cambridge & Counties Bank since 2020, initially as a relationship manager and from January 2024 as a senior business development manager.
At Cambridge & Counties Bank, customers can access up to £5 million per property across commercial, residential or mixed-use assets for a maximum term of 24 months.
An important focus for the new team is short-term financing solutions. These facilities allow customers to transition to more traditional longer-term commercial real estate loans, including specific renovation loans, without interruption.
Parr said: “I am pleased to be working with Andrea and helping the bank capitalize on the increased demand for bridging 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, common sense underwriting and a clear route to maturity – all designed to keep real estate transactions moving when timing is critical.”
Follows said: “Bridging finance has evolved from a niche product to a forward-looking, supportive financing answer to flexible real estate opportunities. While bridging is generally known for its speed, its inherent adaptability, together with a clear exit strategy, has made it an increasingly sought-after product that appeals to all parts of the market.”