A leading Shropshire financial services company says more people are turning to property investment as a new income stream as a result of the pandemic.
Q Commercial Finance says it has seen demand rise for its help in securing finance for clients to renovate and refurbish property both during and in the wake of the Covid-19 crisis.
Director Steve Parry said a combination of the lockdown period, strong property market and commercial planning changes was driving the increase.
“We have certainly seen more interest than ever from people wanting help to finance investment in property both during and after the Covid lockdowns.
“In some cases this is because people have been forced to take time away from their day-to-day work and have had the chance to research new opportunities, whilst in others it has been because a client has recognised the need to diversify as a result of the changes Covid has brought.
“It’s also the case that many people have been able to save money and are now looking for ways to invest this and get a decent return on it. With interest rates where they are and the property market buoyant, bricks and mortar remains an attractive investment.
“There have been a number of planning changes around commercial conversions which, alongside the impact of the pandemic, has certainly got people thinking of new ways to use spaces and to make money from them.”
Steve said Q Commercial Finance – part of the Q Financial Services group which has offices in Wellington and Shrewsbury – could offer a range of finance solutions for anyone looking to invest in the property market.
The company has been working with Shropshire businessman Stuart Woodings to help him finance a range of property deals.
Stuart – who owns the County Goldsmiths jewellers in Shrewsbury and Ludlow – first got the property bug when he decided to renovate his shop in Shrewsbury.
He turned to Steve for help with finance and had quickly secured the £50,000 needed and has since seen his Joint Venture Group property company go from strength to strength.
Stuart said: “Q are quick, efficient and do just what you ask them to do. What I particularly like is the way that they are able to structure deals in ways I didn’t know was possible. They are flexible and innovative in the way they approach funding and have detailed knowledge of every funding option available .
“We have been able to complete around a half a dozen renovations and refurbishments in Shropshire and have been able to secure a healthy return on our investment each time.”
Steve added: “There has been a big increase in the number of finance options available in recent years and it’s really important that potential investors get expert advice on exactly what will and will not work for them.
“We are helping more people than ever before diversify into property by using the whole range of these finance solutions, and clients are frequently amazed at what can be achieved.”