Tuesday 02 September 2014 | RSS Feed

Bridging and Commercial News

Alternative Bridging does £10m in four weeks

Alternative Bridging completed loans totalling more than £10m between July and the beginning of August, the lender has revealed.

Bridging lending almost doubles in a year

The value of new bridging loans written in the second quarter of 2014 almost doubled on a year-on-year basis, the ASTL has revealed.

Metro ringfences £100m for NACFB members

Metro Bank has put aside £100m of facilities lending for members of the National Association of Commercial Finance Brokers.

Shawbrook makes monthly service performance public

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 to speak at ASTL conference

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 spurt for bridging industry

Growth in annual gross lending now stands at 24%, over the twelve months ending 1st July 2014, research from West One Loans reveals.

One in five bridging brokers expect 2014 rate rise

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.

Alpha Bridging appoints chairman

Intermediary lender Alpha Bridging has made Kenneth Hillen its new chairman.

Property bridging loans top investment league

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 unveils first commercial fix

Shawbrook Bank has launched its first ever range of fixed rate commercial mortgages with the option of 3, 4 or 5-year periods.

Second charge lending up 21pc

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 passes £1bn of lending

Dragonfly Property Finance has now lent more than £1bn since its launch in 2009.

Precise launches bridging product with zero facility fee

Precise Mortgages has launched a bridging product with a zero facility fee – normally 2% on the lenders’ bridging loans.

Jonathan Kane joins Capital Bridging

Jonathan Kane has taken up the newly created role of distribution manager at Capital Bridging.

UTB expands development finance team

United Trust Bank has appointed Adam Bovingdon and Steve Brigly as property development managers.

MTF Hoovers up Dyson

Millie Dyson has joined London-based bridging lender MT Finance as head of marketing and communications.

FCA to investigate banking options for SMEs

The FCA and the Competition and Markets Authority has recommended a full competition inquiry into the provision of business lending by banks.

Funding Circle receives additional investment

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.

ABC appoints business development director

Alternative Bridging Corporation has appointed Tanya Elmaz as business development director.

£100m funding line for Capital Bridging Finance

Capital Bridging Finance has had an existing funding line with a major high street bank renewed and doubled to £100m.

SPECIAL FEATURE: Spotlight on Bristol property

Bridging lender Bath & West teamed up with Bristol estate agent Bluesky to help brokers understand the local development opportunities. B&W MD Martyn Smith reports

This old boy is worried about the block

Writing in a special feature Matthew Anderson, director of bridging lender Fincorp, says we must be careful not to wring the bridging market within an inch of its life

Masthaven strengthens underwriting team

Masthaven Secured Loans has appointed Krystle Clark to its underwriting department.

Bridging funds more homes than Help to Buy

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.

Secured market tops £250m in 2014

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.

NACFB 2014: Watershed moment for SME lending

SME lending by members of the NACFB has topped £1bn a month for the first time since 2007, NACFB chairman Marcus Grimshaw has announced.

False advertising undermining bridging professionalism

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 unveils 0.95pc refurb bridge

United Trust Bank has launched a short-term refurbishment product for experienced property refurbishers and developers.

Masthaven completes £1.6m deal with First4Bridging

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.

Montello tops £250m a year mark

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 star launches crowdfunding campaign

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.

SPECIAL FEATURE: Time to stop confusing the customer

Fincorp director Matthew Anderson looks at interest rates and the lack of clarity for the consumer

Hope Capital appoints HR specialist

Hope Capital has just appointed HR specialist Pauline O’Gorman to help support the running of the firm.

RBS director joins Bridgebank Capital

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 becomes AOBP associate lender

Aldermore Bank has joined the Association of Bridging Professionals as an associate lender.

Ezbob launch exceeds expectations

Ezbob, the online short-term commercial SME lender, has announced that its soft launch to intermediaries has exceeded expectations.

Clive Willson joins Brightstar as director of sales

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, writes Robyn...

Roma rescues renovation project

A stalling renovation project which was funded by Roma Finance after being purchased at auction has been sold for a significant profit.

Scott Apps joins Shawbrook Bank

Scott Apps has joined Shawbrook Bank’s commercial mortgages division as its new business development executive.

Interbay Commercial launches term refurb deal

Interbay Commercial has launched a term refurb loan product to its key partners after a market trial proved to be a success.

Shawbrook fixed rate products to go live July 2014

Shawbrook Bank will launch fixed rate products across its commercial mortgage products (short term loans excluded) in July.

Aldermore enters bridging market

Aldermore has entered the bridging market with a range of products which will be offered through packager Finance 4 Business.

Robert Sterling Surveyors joins ASTL

Robert Sterling Surveyors has become the ASTL’s latest associate member, taking the total number of full and associate members to 41.

The Crafty Cockney heads to NACFB

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'.

SPECIAL FEATURE: London property prices will keep rising

Matthew Anderson, director at bridging lender Fincorp, looks at the London property market and considers if prices will keep rising.

John Jenkins joins Capital Bridging as CEO

John Jenkins has joined Capital Bridging’s as chief executive after spending eight years in the same role at GE Capital.

Young Charlie Latimer qualifies

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 open for business

Paxton Private Finance has increased its funding after securing a new £30m funding line from an undisclosed private individual.

Phillip Bond joins Smart Money

Specialist second charge distributor Smart Money has appointed Phillip Bond as compliance director.

MSL receives positive broker reviews

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.

Smith: Mainstream bridging lenders are missing a trick

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.

SPECIAL FEATURE: Signs of an overheating market

Matthew Anderson, director, Fincorp, looks at the current vogue for development finance and considers if it could be a warning that the market is overheating