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Provident Capital has beefed up its senior management team as it prepares to expand its product range and increase its lending capabilities.
Newly appointed group national manager, Steve Sampson, told Mortgage Business that Provident Capital had been able to expand the breadth of its product range thanks to the impending recovery of the financial markets.
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The private funder was forced to pull back on lending amid the global financial crisis, but is now looking to broaden its non-conforming product spectrum.
“The ramifications of the GFC have seen many lenders in the non-conforming sector of the market disappear and this provides Provident Capital with a brilliant opportunity to increase its footprint,” Mr Sampson said.
“I am looking forward to bridging the gap between the banks and the non-conforming sector.”
According to Mr Sampson, Provident had previously tackled the high end of the non-conforming sector, but was now hoping to target the prime areas that the banks currently dominate.
