Mortgage lender Springboard have announced today that they will be ceasing trading. In a phone call we received today they said that it was down to group funding. There will be an official announcement later today and we have to say that we are saddened to see this latest development.
Springboard won the PIBA Service Excellence award, while they were a specialist lender and many of their competitors have ceased trading in the last two years, it is a situation where, despite doing the right things in terms of their distribution and efficiency that the market funding was simply too unforgiving.
We wish everybody in Springboard the best of luck with whatever they do next, we always found them to be a great set of people not only as a group but also as individuals. Springboard were a fully owned subsidiary of PTsb.