Bridging and Commercial News
Alternative Bridging has appointed Sahail Akram as business development manager covering the Midlands and North of England.
Bournemouth-based specialist packager Positive Lending today announced the completion of a record £11.7m commercial loan with InterBay – the largest commercial loan completed so far this year for both parties.
Masthaven Finance, the specialist bridging and second charge lender, is on a recruitment drive to increase its head office underwriting and administration teams.
Vista residential property fund, the joint venture between Countrywide and Hermes Investment Management, has completed a £50m investment in 324 flats in Liverpool.
Aldermore is offering free valuations on bridging applications for a limited period.
Roma Finance, the Manchester-based specialist bridging lender, has managed to resolve a difficult and complex case involving three generations of a family and a dispute with a major UK clearing bank lasting several years.
Clever Lending, the secured loans master broker, has appointed Steve Sanderson to expand their proposition to include commercial and bridging finance.
Dragonfly Property Finance has hired Charlotte Williams as an internal business development manager.
360 Sourcing, the secured loan sourcing platform powered by specialist packager Positive Lending, has originated in excess of £100million since launch in April 2015.
More than two thirds (68%) of brokers operating in the bridging sector expect to complete more bridging loan business over the next 12 months than they did in the previous 12 months, research from United Trust Bank reveals – with a further...
Blemain Group has enhanced its broker portal, My Broker Venue, enabling registered users to calculate quotes, save applications and gain access to documentation regarding products and services with the Blemain Group of lending companies.
The Association of Bridging Professionals has partnered with SimplyBiz Group’s Consumer Credit Centre – making it the official compliance services provider being recommended to AOBP broker members.
The National Association of Commercial Finance Brokers is holding an interim conference in Birmingham on 23 September to support its members ahead of impending regulation which kicks in from March next year.
The Association of Short Term Lenders has been joined by another new member, Apex Bridging. This takes the ASTL’s membership to thirty, hitting its target of thirty full members, a target set two years ago when the ASTL had just 22 members.
Kensington Mortgages is launching a mortgage for self-employed customers with affordability taking into consideration a company director’s share of net profits in addition to their salary.
With less than one month to go until the NACFB’s sixth Commercial Finance Expo on 17 June, the NACFB has announced the presence of some big and influential names.
TFC Homeloans and Lancashire Mortgage Corporation joined forces last month to ensure a client did not lose an auction property, by arranging bridging finance in just three days.
The FCA will be attending the NACFB’s annual Commercial Finance Expo on the 17th June.
Amicus, the London based short term funder completed £67m worth of completions with over £30m in March alone in the first quarter of 2015.
Gross bridging lending reached £80.5m in the first quarter of 2015 with an average term of 11 months, average LTV of 50% and an average interest rate of 0.95%, the first Bridging Trends set of data reveals today,
All exhibitor stands are now sold out for the 6th NACFB’s annual Commercial Finance Expo on 17th June.
Affirmative Finance is the latest bridging lender to join The Association of Bridging Professionals.
The Finance and Leasing Association has today published its Manifesto 2015, proposing measures in five key areas which any new Government could adopt to boost UK growth, productivity and jobs.
Quantum by Bridgebank Capital have completed a £1.2m short-term loan advance for a successful property professional, based in the North West.
HomeLoan Partnership has added Omega Secured Loans to their panel.
Lancashire Mortgage Corporation has completed seven funding transactions in just seven days, worth £3m, for broker partner Finance 4 Business.
Duff & Phelps has joined The Association of Short Term Lenders as an associate member, taking the ASTL’s membership to 28 and its associate membership numbers to 17.
Harry Peradigou and Rehka Chelvendra have become partners at Brightstone Law.
Shawbrook Bank has announced two promotions within its commercial mortgages team.
Orange Money, which trades as Ezbob in the UK, has acquired Everline in a bid to create the UK’s largest online commercial lender.
Dragonfly Property Finance said today that it had redeemed more than £750m in loans since its launch in 2009.
Amicus Finance – formerly Capital Bridging Finance – has acquired City-based brokerage Norton Folgate Capital Group, including Norton Folgate Capital Consulting LLP to bolster its presence in the commercial market.
Roma Finance, the Manchester-based bridging and development finance lender, has joined the ASTL as Roma continues to strengthen its service proposition to brokers.
Hope Capital has just facilitated its largest ever loan deal for £3.3million.
Nearly three quarters (73%) of development finance brokers expect to grow their businesses in 2015.
Masthaven Secured Loans has revamped its range with a number of rate changes whilst also amending its automated valuation model rules.
Despite an expected dip in December 2014 finished the year strongly as the secured loan industry completed £51,067,000 of lending in the final quarter of the year, the Secured Loan Index from Loans Warehouse has shown.
Brokers reckon a Eurozone recession and a change of government in Westminster are the biggest threats to the UK’s economic recovery, research from United Trust Bank reveals.
V Loans, the specialist secured lending arm of KR Group, has appointed Jo Tuson as a case manager.
Fincorp has launched a pair of fees or no fees refurbishment loans as it looks to “give customers the choice" when it comes to fees.
Short and medium-term lender Dragonfly Property Finance has appointed Cattrina Wigley as its new credit manager.
The consolidation of the first and second charge mortgage market gained widespread support amongst those consulted about the forthcoming Mortgage Credit Directive.
Both bridging finance and equity release are to remain exempt from the new regulation following implementation of the Mortgage Credit Directive in 2016.
Prestige Finance has significantly enhanced both its pricing and lending criteria for prime, near prime and large loan plans.
Lorenzo Satchell has been named as the new managing director of master broker First 4 Bridging.
Connect Mortgage Club has added secured loans master broker The Loans Engine to its panel.
Specialist distributor Smart Money will be adding full bridging support for intermediaries to its services from the New Year.
Short-term lender Capital Bridging Finance lent a record £20m in November.
miLoan, the secured loans sourcing system provided by Y3S Loans, has registered its 6000th broker user.
Shawbrook Bank has appointed Jack Simon as an outbound sales executive to its internal business development team.
Offering clients the lowest headline rate available in the bridging market might not be enough to satisfy the regulators desire for more transparency, Beverley Loggia, director of Oliver Rae Associates has warned.