Bridging and Commercial News
Second charge specialist packager Smart Money has bolstered its internal sales team with the addition of Katy Leman to its underwriting department.
Shawbrook Bank’s Rob Holt has been promoted to sales executive within the Commercial Division’s internal Sales Desk.
Vantage Finance has completed a 10-day cycle challenge to raise £3,100 for The Brain Tumour Charity.
Nearly half of development finance brokers and developers see the London market as ‘unhealthily overheated’, research from United Trust Bank has revealed.
Second charge loans have an important role to play in a functioning housing market and could help the government out when the Help to Buy Scheme comes to an end, Ray Boulger, senior technical manager at John Charcol, said today.
The UK Sepsis Trust Inaugural Charity Ball, which was sponsored by Brightstar Financial, raised over £30,000 for the charity when it was held last Friday.
Hope Capital is adding an additional 50% to its procuration fees to celebrate its third birthday.
Proc fess will have hit 0.40% by the end of 2014 and could continue to rise next year, Robert Sinclair, chief executive of the association of mortgage intermediaries, said today,
Lenders could abandon Scotland if it votes yes on independence on Thursday, Andrew Stoneman of Advisory firm Duff & Phelps has warned,
Lynda Blackwell, mortgage policy manager at the FCA, has come out in support of an industrywide qualification for the bridging industry,
Concerns have been raised about the way the FCA gains its market intelligence on the bridging sector after Lynda Blackwell, mortgage policy manager at the FCA, outlined the way the regulator monitors the industry,
Despite the regulated bridging market moving to a more professional footing the regulator continues to have concerns about the sector, FCA manager of mortgage policy Lynda Blackwell has warned,
The Financial Conduct Authority will launch its consultation paper on the reporting and regulation of the second charge industry later this month, Lynda Blackwell manager of mortgage policy at the regulator said today,
The government may miss its chance to harmonise UK mortgage regulation due to the inflexibility of the EU Mortgage Credit Directive, ASTL CEO Benson Hersch has warned,
Shawbrook Bank is extending its solicitor non-representation offering to include limited companies across all products on refinances, regardless of property type.
Tech entrepreneur Chris Hancock launches Crowd2Fund today – a crowdfunding platform built to support five different funding models including debt and equity.
Mirror, mirror on the wall, who is the cheapest of them all? Matthew Anderson, director of Fincorp, sheds some Snow White on the bridging industry.
Bridgebank Capital are set to make an exciting announcement this week regarding the launch of a new split brand.
The Association of Short Term Lenders’ has appointed its new executive committee with three new members coming onboard.
Alternative Bridging completed loans totalling more than £10m between July and the beginning of August, the lender has revealed.
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 Bank has put aside £100m of facilities lending for members of the National Association of Commercial Finance Brokers.
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.