Bridging and Commercial News
Jonathan Kane has taken up the newly created role of distribution manager at Capital Bridging.
United Trust Bank has appointed Adam Bovingdon and Steve Brigly as property development managers.
Millie Dyson has joined London-based bridging lender MT Finance as head of marketing and communications.
The FCA and the Competition and Markets Authority has recommended a full competition inquiry into the provision of business lending by banks.
Funding Circle has raised US$65m in a Series D funding round led by Index Ventures with participation from existing investors, Accel Partners, Union Square Ventures and Ribbit Capital.
Alternative Bridging Corporation has appointed Tanya Elmaz as business development director.
Capital Bridging Finance has had an existing funding line with a major high street bank renewed and doubled to £100m.
Masthaven Secured Loans has appointed Krystle Clark to its underwriting department.
Since Help to Buy was introduced 14 months ago bridging loans have funded over twice the number of new homes, the West One Bridging Index has revealed.
The sector has also surpassed the £250m lending figure during May, a full two months earlier than it did last year, the Secured Loan Index from Loans Warehouse has revealed.
SME lending by members of the NACFB has topped £1bn a month for the first time since 2007, NACFB chairman Marcus Grimshaw has announced.
Some bridging lenders are deliberately luring borrowers into low monthly interest rate loans that end up costing them thousands of pounds more than they anticipated when fees are slapped on top, Fincorp has claimed.
United Trust Bank has launched a short-term refurbishment product for experienced property refurbishers and developers.
Masthaven and First4Bridging teamed up to secure a £1.6m bridging loan, enabling a repeat client to secure their dream home after being constantly gazumped.
Bridging lender Montello Finance has broken through the £250m a year lending threshold as it continues to make significant gains in the buy-to-let market.
One Direction's Louis Tomlinson and former Doncaster Rovers chairman John Ryan have teamed up to create a new Trust to secure the football club’s future – with crowdfunding playing a major role.
Hope Capital has just appointed HR specialist Pauline O’Gorman to help support the running of the firm.
Steve Bryce, former director of the RBS property finance group commercial banking team, has joined Bridgebank Capital as head of credit risk as the bridging lender focuses more on larger advances.
Aldermore Bank has joined the Association of Bridging Professionals as an associate lender.
Ezbob, the online short-term commercial SME lender, has announced that its soft launch to intermediaries has exceeded expectations.
Clive Willson has joined Essex-based Brightstar Financial as director of sales – just over a week since the specialist distributor was celebrating reaching £500m in specialist lending since its inception in 2011,
A stalling renovation project which was funded by Roma Finance after being purchased at auction has been sold for a significant profit.
Scott Apps has joined Shawbrook Bank’s commercial mortgages division as its new business development executive.
Interbay Commercial has launched a term refurb loan product to its key partners after a market trial proved to be a success.
Shawbrook Bank will launch fixed rate products across its commercial mortgage products (short term loans excluded) in July.
Aldermore has entered the bridging market with a range of products which will be offered through packager Finance 4 Business.
Robert Sterling Surveyors has become the ASTL’s latest associate member, taking the total number of full and associate members to 41.
Eric Bristow, the five times world dart champion, will be on site at the NACFB Commercial Finance Expo on June 25 - giving delegates the chance to challenge 'The Crafty Cockney'.
Matthew Anderson, director at bridging lender Fincorp, looks at the London property market and considers if prices will keep rising.
John Jenkins has joined Capital Bridging’s as chief executive after spending eight years in the same role at GE Capital.
Charlie Latimer, 26, the youngest member of the BLG’s new business team, has completed his MRICS qualification and become a fully qualified chartered planning and development surveyor.
Paxton Private Finance has increased its funding after securing a new £30m funding line from an undisclosed private individual.
Specialist second charge distributor Smart Money has appointed Phillip Bond as compliance director.
Masthaven Secured Loans, which has instigated a survey among its introducers to provide regular feedback on its performance, has reported a fundamental thumbs up in terms of its service and flexibility.
Mainstream bridging lenders are so heavily focused on deals in London they’re missing out on opportunities to lend in other areas of the country with strong property prospects.
Short-term lender Alternative Bridging has launched a low rate product for commercial and residential property loans.
Smart Money Loans, the specialist second charge distributor, has rebranded as Smart Money with a new logo and sales and marketing material for introducing brokers.
Bridgebank Capital has launched a mobile website for brokers, complete with a redeveloped application platform.
United Trust Bank has appointed Georgie Reisser-Weston as head of human resources.
Jerrold Holdings, the secured lender to the residential and commercial property sectors, has completed an extension of its private securitisation programme, increasing the facility from £373m to £435m.
The FCA is likely to crack down hard on second charge lending over the next two years after supervision of the sector moved under its jurisdiction earlier this month, bridging lender Fincorp has claimed.
Brian Baker has joined Hope Capital as head of business development.
Payday loan companies should have to display a credit rating warning for misguided borrowers, Rob Ashley-Roche, principal of Rest Assured Mortgages, says, writes Ryan Bembridge.
Marc Harris has joined Dragonfly Property Finance as chief operating officer.
Bridgebank Capital has announced that they are one of the lead sponsors of the forthcoming NACFB Commercial Finance Expo taking place on Wednesday 25th June at the NEC, Birmingham.
SME bosses warn that the economic recovery has a long way to run with the shortage of skilled young workers in the industry.
Bridging lending gained momentum at the end of 2013 both in terms of value and the number of loans issued, ASTL figures have revealed.
Masthaven has appointed Jim Baker as its new business development manager for Scotland and North England,