Bridging and Commercial News
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,
Funding solutions specialists MFS has become the latest member of the Association of Bridging Professionals,
Greenfield Capital has been granted approval by the Financial Conduct Authority and is now authorised to offer regulated mortgage contracts,
Precise Mortgages has lowered the rates on a selection of its bridging products.
Prestige Finance is refreshing its branding a year after its launch under OneSavings Bank.
EZBOB, the short term commercial lender, has joined the NACFB as a patron.
Freedom Finance has completed over £15.3m of loans in February as consumer appetite continues to grow.
ASTL’s annual bridging conference will take place at Painters’ Hall at Little Trinity Lane within the City of London, it was announced.
Peer-to-peer mortgage lending platform, LendInvest, has completed a peer-to-peer loan which was split into different tranches, marking a world-first for the platform.
Brokers are calling for longer term bridging loans with higher LTVs, Capital Bridging Finance has revealed.
Henry Knight, managing director of Springtide Capital, hopes stamp duty will stop hindering first-time buyers and that Help to Buy will be tailored regionally in the 2014 Budget.
A unique collaboration between the UK’s main alternative business funders aims to make borrowing easier for the country’s SMEs – whilst aiding the main banks to support rejected applicants.
Sensible Home Finance has reached £1m completions with Masthaven Secured Loans.
Payday lenders and other high cost short term lenders will be the subject of an in-depth thematic review into the way they collect debts and manage borrowers in arrears and forbearance, the Financial Conduct Authority has said.
Mortgage fraud remains a major problem in the UK and is the biggest area of risk facing any sector, Christian Faes, co-founder of peer-to-peer lender LendInvest and managing director of Montello, has warned.
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.