Bridging and Commercial News
2014 will see lenders in the bridging market start to consolidate and could even see some lenders go to the wall, predicts Fincorp.
Hope Capital, the short-term property bridging finance company, as it has completed its largest bridging deal to date.
Small businesses in Northern Ireland can expect the number of active lenders to double within two years according to the NACFB.
InterBay Commercial, part of the OneSavings Bank Group, completed more loans than ever in October and is now offering three more incentives in November to its key partners.
MarketInvoice, the UK and Europe’s first online platform allowing SMEs to unlock funding by selling their invoices, has today announced that October was the first month in which it saw more than £10m traded.
Capital Bridging has appointed Tom Thomas, formerly head of mortgage underwriting at Saffron, as its head of specialist lending.
Lancashire Mortgage Corporation has launched a range of bridging products starting from 0.75% with no exit fees and a choice of repayment plans over three, six and 12 months.
Shawbrook is offering borrowers who have taken out a commercial mortgage with them a discount on the margin or a reduction in the arrangement fee on their next loan.
Next year looks set to be the best year for bridging since 2007 claims Alan Cleary, managing director of Precise Mortgages.
United Trust Bank has appointed two new non-executive directors to its board to help grow its market share and invest in products and services.
Finance 4 Business and Fox Davidson have linked up with Omni Capital to arrange a substantial residential property bridging facility for an overseas client.
Steve Light, Mortgage Desk, and Melanie Whiting, Norton Finance and Mortgages Ltd, have been selected as the winners of Bridgebank Capital’s Broker of the Month and Deal of the Month awards for September 2013.
Bridgebank Capital has expanded its business development team with the appointment of former broker Huw Oddy as a business development manager for the South East.
Loans to non-financial businesses increased by £0.7 billion in September compared to an average monthly decrease of £1.5 billion over the previous six months, according to the latest Bank of England statistics.
Capital Bridging Finance is moving to new offices at Grafton House, 2-3 Golden Square, W1F 9HR from 4th November 2013.
Six out of ten commercial mortgage brokers saw a rise in completions in the last three months, research from Shawbrook Bank reveals.
Crystal Mortgages has beaten last year's total lender figures in quarter three of 2013, with the company issuing terms on £336.1m year-to-date against £295.1m in 2012.
Bridgebank Capital has increased its rate of commission to brokers to 1.5% on all deals between £250,000 and £750,000.
Today’s high street banking figures from the British Bankers’ Association show that net lending to businesses has fallen in 8 of the last 12 months, despite growth of £2.5bn between August and September.
Ortus Secured Finance has become the latest firm to join the Association of Bridging Professionals as an Associate Lender.
Blemain Group is calling on the property industry to come together and solve the problem of rapidly worsening surveyor availability which is impacting on the first and second charge markets.
The UK bridging industry is on track to provide borrowers with over £2 billion in short-term secured finance by the end of 2013 according to the latest West One Bridging Index.
Precise Mortgages has today launched a set of limited edition bridging products which it describes as market leading.
Montello has launched a new website called 'Getting The Deal Done' to feature case studies of its recent transactions.
Lenders and distributors in the short-term lending industry have opposite ideas of what makes a good short-term lender great, a survey by Brightstar Financial has revealed.
Bridging lenders and brokers have requested more clarification on the forthcoming Mortgage Market Review via the online readiness survey conducted by the Financial Conduct Authority.
Non regulated bridging continues to be a worry to the Financial Conduct Authority, Lorna O’Brien mortgage policy adviser at the FCA has said.
Bridging lender Century Capital has become the twenty fourth member of the Association of Short Term Lenders.
Commercial lender Lancashire Mortgage Corporation has created a new management position as it moves to grow lending and drive efficiencies.
Hope Capital, the short-term property bridging finance company, has recently completed a number of deals above its current maximum loan value prompting it to double its maximum loan from £750k to £1.5m.
United Trust Bank has cut the interest rates for its bridging products with rates now starting from 0.69% per month.
InterBay Commercial is looking to accelerate completions in October with a borrower double incentive.
The FCA announced at the ASTL quarterly general meeting on Monday this week that it is prepared to hold an MMR workshop especially for the bridging community.
Brokers should be looking towards borrowers with unusual circumstances for opportunities to write more business advised Rob Jupp, chief executive of specialist distributor Bright Star Financial.
The presentation programme for the Association of Bridging Professionals’ 2013 Annual General Meeting has been confirmed, along with the discussion topic for the inaugural AOBP Lender/Executive Committee meeting.
The ASTL has revealed the complete line up of speakers for its inaugural conference which will take place on 10 October in Butcher’s Hall, London.
SMEs are struggling under the weight of rising cost inflation and steeper loan costs compared to their medium-sized counterparts, research commissioned by Aldermore shows.
Small businesses are struggling to source suitable finance from their business bankers and are turning to alternative sources of funds such as bridging loans says Positive Bridging Finance.
A third of business owners which manager their own business are opting to inject personal funds rather than seek external funding, figures from the Bank of Cyprus UK show.
UK businesses are more confident about their future growth than they have been in the past three years, according to the latest annual business growth survey by Santander Corporate & Commercial.
Bridging Finance Solutions has announced it has started lending in Scotland due to renewed signs of confidence in the housing market north of the border.
Short-term lending by members of the NACFB topped half a billion for the first time according to the annual survey of its members.
Peer-to-peer loan trading platform LendInvest has confirmed that it has now traded over £6m in loans since its launch four months ago.
Nationwide has put its plans to launch into the SME lending market on ice until 2016 following pressure from the Prudential Regulation Authority to meet tougher capital requirements.
Brightstar has completed over £100m in new business in the first eight months of 2013, the specialist lending intermediary hub has said.
Duncan Kreeger, director of peer-to-peer bridging lender West One Loans, has criticised ‘old-style’ banks following the BBA lending figures released last week which showed net lending to non-financial businesses was minus £3.3bn in July.
The Forum of Private Business believes today's revised Q2 GDP figures - showing a revised growth figure of 0.7% following the positive figures of last quarter - shouldn’t make us complacent.
Rob Jupp is to make his first speech as head of the Association of Bridging Professionals at the Association of Short Term Lenders’ annual conference in October.
The Buy to Let Business, along with Boudicca, Buchler Barnett Spencer and Outside the Box, are the latest brokers to join Shawbrook’s strategic partnership programme which turned one today.
Bridgebank Capital has appointed Robert Heywood as a business development manager for the City and Central London.