Bridging and Commercial News
Omni Capital has launched an international structured funding division offering residential and commercial loans of up to £250m.
The Financial Conduct Authority has published its final peer-to-peer lending rules ahead of formal regulation of the industry on 1 April.
Ezbob are looking to recruit business development managers and a marketing executive.
Shawbrook Bank is launching two products to help property professionals make the most of their portfolios through conversion to HMO or by expanding into commercial assets.
Bridgebank Capital has completed a £10.8m bridging loan on a Central London property for a residential developer over the course of just six working days.
Jerrold Holdings has appointed David Dawkins as head of marketing.
Short-term second charge lending is at a record high, the first analysis of the second charge bridging industry from West One Loans has found.
EZBOB, the short term commercial lender, currently working with brokers through commercial specialist, Liquidity Central, is set to become a patron of the NACFB.
Brokers are polarised when it comes to commission disclosure, the results of Shawbrook Bank’s second Broker Barometer – its quarterly survey to test the temperature of the commercial intermediary market – reveal.
The specialist savings and lending bank will produce a formal mortgage offer within 24 hours of receipt of all information, including the valuation report and new application form.
Mortgage distributor 3mc has become a member of Precise Mortgages Bridging Premier Panel.
Tom Garratt, head of intermediary development at The Loans Engine, considers if the second charge market is set to enter a new era of larger loans.
Brokers remain positive in the development finance sector despite knockbacks from High Street banks, the latest survey from United Trust Bank shows.
Capital Bridging Finance has appointed Robin Turnbull as a senior underwriter.
Gross bridging lending totalled £2.0 billion in the twelve months to 1st January, up 3.3% from the annual figure in November 2013, according to the West One Bridging Index.
Prestige Finance has appointed Janet Frame as roving underwriter.
Central Trust has become the third secured loan lender to move into Northern Ireland since the start of the credit crunch.
Some 88% of brokers are expecting to write more secured loan business when consumer credit regulation comes into effect in April, a recent broker survey has discovered.
Omni Capital has launched a new development funding product.
The world’s largest peer-to-peer loan of £4.12m has been completed by LendInvest.
The Association of Bridging Professional’s has released the details of its first event of 2014.
Hayley Taylor has been appointed operations manager by short-term bridging finance company Hope Capital,
Enterprise Finance has appointed Emily Gestetner as its chief financial officer,
Masthaven has launched a hybrid second charge short-term product aimed at clients in need of fast funding.
The RBS NatWest Group will make £100m of funding available to small businesses through the National Association for Commercial Finance Brokers in a pilot to support the growing market for brokered business loans.
Assetz Capital, the peer-to-peer lending platform, has hired a bridging expert to develop its short-term business finance offering.
The UK’s recovering property market has given increasing numbers of small businesses the confidence to take out loans, peer-to-peer lender LendInvest has revealed.
2014 will see lenders in the bridging market start to consolidate and could even see some lenders go to the wall, predicts Fincorp.
Hope Capital, the short-term property bridging finance company, as it has completed its largest bridging deal to date.
Small businesses in Northern Ireland can expect the number of active lenders to double within two years according to the NACFB.
InterBay Commercial, part of the OneSavings Bank Group, completed more loans than ever in October and is now offering three more incentives in November to its key partners.
MarketInvoice, the UK and Europe’s first online platform allowing SMEs to unlock funding by selling their invoices, has today announced that October was the first month in which it saw more than £10m traded.
Capital Bridging has appointed Tom Thomas, formerly head of mortgage underwriting at Saffron, as its head of specialist lending.
Lancashire Mortgage Corporation has launched a range of bridging products starting from 0.75% with no exit fees and a choice of repayment plans over three, six and 12 months.
Shawbrook is offering borrowers who have taken out a commercial mortgage with them a discount on the margin or a reduction in the arrangement fee on their next loan.
Next year looks set to be the best year for bridging since 2007 claims Alan Cleary, managing director of Precise Mortgages.
United Trust Bank has appointed two new non-executive directors to its board to help grow its market share and invest in products and services.
Finance 4 Business and Fox Davidson have linked up with Omni Capital to arrange a substantial residential property bridging facility for an overseas client.
Steve Light, Mortgage Desk, and Melanie Whiting, Norton Finance and Mortgages Ltd, have been selected as the winners of Bridgebank Capital’s Broker of the Month and Deal of the Month awards for September 2013.
Bridgebank Capital has expanded its business development team with the appointment of former broker Huw Oddy as a business development manager for the South East.
Loans to non-financial businesses increased by £0.7 billion in September compared to an average monthly decrease of £1.5 billion over the previous six months, according to the latest Bank of England statistics.
Capital Bridging Finance is moving to new offices at Grafton House, 2-3 Golden Square, W1F 9HR from 4th November 2013.
Six out of ten commercial mortgage brokers saw a rise in completions in the last three months, research from Shawbrook Bank reveals.
Crystal Mortgages has beaten last year's total lender figures in quarter three of 2013, with the company issuing terms on £336.1m year-to-date against £295.1m in 2012.
Bridgebank Capital has increased its rate of commission to brokers to 1.5% on all deals between £250,000 and £750,000.
Today’s high street banking figures from the British Bankers’ Association show that net lending to businesses has fallen in 8 of the last 12 months, despite growth of £2.5bn between August and September.
Ortus Secured Finance has become the latest firm to join the Association of Bridging Professionals as an Associate Lender.
Blemain Group is calling on the property industry to come together and solve the problem of rapidly worsening surveyor availability which is impacting on the first and second charge markets.
The UK bridging industry is on track to provide borrowers with over £2 billion in short-term secured finance by the end of 2013 according to the latest West One Bridging Index.
Precise Mortgages has today launched a set of limited edition bridging products which it describes as market leading.