Bridging and Commercial News
Shawbrook Bank’s commercial mortgages division is making public its performance across its service level agreement metrics and will publish the results monthly.
Robert Sinclair, the chief executive of the Association of Mortgage Intermediaries and the Association of Finance Brokers is the latest notable speaker to be lined up to speak at the ASTL’s annual conference.
Growth in annual gross lending now stands at 24%, over the twelve months ending 1st July 2014, research from West One Loans reveals.
Over one in five brokers operating in the bridging, development finance and asset finance sectors expect to see an increase to the base interest rate by the end of this year.
Intermediary lender Alpha Bridging has made Kenneth Hillen its new chairman.
Property investors using bridging loans have made the greatest annual returns compared to other alternative asset classes, research from West One Loans has concluded.
Shawbrook Bank has launched its first ever range of fixed rate commercial mortgages with the option of 3, 4 or 5-year periods.
The value of secured lending in June was up by 21% year-on-year as £46m was lent during the month, figures from the Finance and leasing Association have shown.
Dragonfly Property Finance has now lent more than £1bn since its launch in 2009.
Precise Mortgages has launched a bridging product with a zero facility fee – normally 2% on the lenders’ bridging loans.
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.