London property loan firm expands to Belfast amidst Brexit squeeze

London-based property loan specialist firm Ortus Secured Finance has opened a new office in Belfast amidst pressure on the UK property market due to Brexit.

The property market across the UK is having a tough time due to Brexit, but it seems that Northern Ireland could be bucking the nation-wide trend. Both latest RICS Residential Market Survey and the Ulster University’s Quarterly House Price Index indicate that Northern Ireland's housing market is remaining remarkably stable despite Brexit uncertainty.

It may be a case of good timing then for London-based property loan firm Ortus Secured Finance, which has now expanded with a new office in Belfast. Based in Arthur Street, the new office is being led by ex-Bank of Ireland executive Shane Donnelly and will be scaling up over the next 18 months with 10 new jobs being made available.

Ortus' Managing Director Jon Salisbury told the Belfast Telegraph that Northern Ireland is being just as badly affected by Brexit, saying "we don't see a major difference between the impact it's having in Northern Ireland and the impact in the rest of the UK." More people are now putting off major purchases due to Brexit uncertainty, but Salisbury believes people are just waiting to find out the result of Brexit no matter the outcome.

"We have huge respect for the business and professional community and believe there is significant untapped potential for specialist lenders like Ortus. We have spent time getting to know the market before taking the decision to open an office," Salisbury said.

Source: Belfast Telegraph