Saturday 19 April 2014 | RSS Feed

Bridging and Commercial News

UTB hires HR specialist Georgie Reisser-Weston

United Trust Bank has appointed Georgie Reisser-Weston as head of human resources.

Jerrold Holdings refinances £435m Securitisation

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.

Fincorp: FCA will crack down hard on seconds

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.

Hope Capital expands team

Brian Baker has joined Hope Capital as head of business development.

Payday loan borrowers need protecting from themselves

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.

Dragonfly to take off with new chief Marc Harris

Marc Harris has joined Dragonfly Property Finance as chief operating officer.

Bridgebank Capital sponsor of the NACFB Expo

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.

SMEs report skills shortage

SME bosses warn that the economic recovery has a long way to run with the shortage of skilled young workers in the industry.

Bridging grows 39pc

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 appoints new BDM

Masthaven has appointed Jim Baker as its new business development manager for Scotland and North England, writes Harry Yorke.

MFS joins AOBP

Funding solutions specialists MFS has become the latest member of the Association of Bridging Professionals, writes Harry Yorke.

Greenfield Capital gets FCA authorisation

Greenfield Capital has been granted approval by the Financial Conduct Authority and is now authorised to offer regulated mortgage contracts, writes Robyn Hall.

Precise cuts bridging rates

Precise Mortgages has lowered the rates on a selection of its bridging products.

Prestige refreshes brand

Prestige Finance is refreshing its branding a year after its launch under OneSavings Bank.

EZBOB becomes NACFB patron

EZBOB, the short term commercial lender, has joined the NACFB as a patron.

Freedom lends £15.3m in February

Freedom Finance has completed over £15.3m of loans in February as consumer appetite continues to grow.

ASTL put conference date in diary

ASTL’s annual bridging conference will take place at Painters’ Hall at Little Trinity Lane within the City of London, it was announced.

LendInvest completes first tranched loans

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 demand longer term bridging loans

Brokers are calling for longer term bridging loans with higher LTVs, Capital Bridging Finance has revealed.

Knight reveals budget ‘wishlist’

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.

Alternative funders launch SME finance portal

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 breaks £1m barrier

Sensible Home Finance has reached £1m completions with Masthaven Secured Loans.

Payday lender review date set

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 major problem

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 launch international investor division

Omni Capital has launched an international structured funding division offering residential and commercial loans of up to £250m.

FCA publish final P2P rules

The Financial Conduct Authority has published its final peer-to-peer lending rules ahead of formal regulation of the industry on 1 April.

Ezbob starts recruitment drive

Ezbob are looking to recruit business development managers and a marketing executive.

Shawbrook boosts property investor support

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 in £10.8m six-day bridging loan

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.

Dawkins to market Jerrold Holdings

Jerrold Holdings has appointed David Dawkins as head of marketing.

Second charge bridging at record high

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 becomes NACFB patron

EZBOB, the short term commercial lender, currently working with brokers through commercial specialist, Liquidity Central, is set to become a patron of the NACFB.

Fincorp: Regulation is coming

Nigel Alexander, director, Fincorp, looks at regulation and what it could mean for the bridging market

Brokers divided on commission transparency

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.

Shawbrook streamlines STL practices

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.

3mc added to Precise’s Bridging Premier Panel

Mortgage distributor 3mc has become a member of Precise Mortgages Bridging Premier Panel.

SPECIAL FEATURE: Does size really matter?

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.

Banks wary of development finance

Brokers remain positive in the development finance sector despite knockbacks from High Street banks, the latest survey from United Trust Bank shows.

Capital expands underwriting team

Capital Bridging Finance has appointed Robin Turnbull as a senior underwriter.

Bridging lending hits record high

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 appoints roving underwriter

Prestige Finance has appointed Janet Frame as roving underwriter.

Lending competition hots up in NI

Central Trust has become the third secured loan lender to move into Northern Ireland since the start of the credit crunch.

Post regulation secured loan business surge expected

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 launches development funding line

Omni Capital has launched a new development funding product.

World’s largest P2P loan completed

The world’s largest peer-to-peer loan of £4.12m has been completed by LendInvest.

AOBP announces first event of 2014

The Association of Bridging Professional’s has released the details of its first event of 2014.

SPECIAL FEATURE: Lenders are from Mars, brokers are from Venus

Matthew Anderson, director at bridging lender Fincorp, goes all John Gray on mortgage industry relationships.

Hayley to Taylor Hope Capital operations

Hayley Taylor has been appointed operations manager by short-term bridging finance company Hope Capital, writes Ryan Bembridge.

Emily Gestetner joins Enterprise Finance as CFO

Enterprise Finance has appointed Emily Gestetner as its chief financial officer, writes Ryan Bembridge.

Masthaven launches hybrid second charge product

Masthaven has launched a hybrid second charge short-term product aimed at clients in need of fast funding.

RBS and NatWest channel funds via NACFB

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 hires bridging expert

Assetz Capital, the peer-to-peer lending platform, has hired a bridging expert to develop its short-term business finance offering.