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Bridging and Commercial News

Apex Bridging joins ASTL

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.

Exclusive: Kensington targets the self employed

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.

NACFB announces Expo attendees

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 and Lancashire complete 3 day bridge

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.

FCA Confirms Attendance at Commercial Expo

The FCA will be attending the NACFB’s annual Commercial Finance Expo on the 17th June.

Amicus completes 67m in Q1

Amicus, the London based short term funder completed £67m worth of completions with over £30m in March alone in the first quarter of 2015.

Bridging reached £80.5m in Q1

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, writes Robyn...

NACFB expo sells out

All exhibitor stands are now sold out for the 6th NACFB’s annual Commercial Finance Expo on 17th June.

Manchester bridging lender joins the AOBP

Affirmative Finance is the latest bridging lender to join The Association of Bridging Professionals.

FLA launches its 2015 manifesto

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 facilitates debt forgiveness transaction

Quantum by Bridgebank Capital have completed a £1.2m short-term loan advance for a successful property professional, based in the North West.

Omega Secured Loans to join HLP’s panel

HomeLoan Partnership has added Omega Secured Loans to their panel.

LMC sees bumper week worth £3m

Lancashire Mortgage Corporation has completed seven funding transactions in just seven days, worth £3m, for broker partner Finance 4 Business.

Duff and Phelps joins the ASTL

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.

New partners at Brightstone Law

Harry Peradigou and Rehka Chelvendra have become partners at Brightstone Law.

Shawbrook announces commercial team promotions

Shawbrook Bank has announced two promotions within its commercial mortgages team.

Ezbob parent Orange Money acquires Everline

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 passes £750m loan redemptions since launch

Dragonfly Property Finance said today that it had redeemed more than £750m in loans since its launch in 2009.

Amicus buys Norton Folgate

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 joins the ASTL

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 completes largest ever deal

Hope Capital has just facilitated its largest ever loan deal for £3.3million.

3 in 4 DF brokers expect to grow in 2015

Nearly three quarters (73%) of development finance brokers expect to grow their businesses in 2015.

Masthaven revamps range

Masthaven Secured Loans has revamped its range with a number of rate changes whilst also amending its automated valuation model rules.

SPECIAL FEATURE: Another good year for commercial

Alan Sippetts, investment director, Heartwood Investment Management, says conditions are in place for another strong year for commercial property.

Secured lending closes year strongly

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.

Eurozone recession and election woes for brokers

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.

Jo Tuson joins V Loans

V Loans, the specialist secured lending arm of KR Group, has appointed Jo Tuson as a case manager.

Fincorp launch fee free refurb loan

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.

Wigley joins dragonfly as credit manager

Short and medium-term lender Dragonfly Property Finance has appointed Cattrina Wigley as its new credit manager.

Strong support for first and second consolidation

The consolidation of the first and second charge mortgage market gained widespread support amongst those consulted about the forthcoming Mortgage Credit Directive.

Bridging and equity release to remain MCD exempt

Both bridging finance and equity release are to remain exempt from the new regulation following implementation of the Mortgage Credit Directive in 2016.

Prestige enhances range

Prestige Finance has significantly enhanced both its pricing and lending criteria for prime, near prime and large loan plans.

Satchell bags F4B role

Lorenzo Satchell has been named as the new managing director of master broker First 4 Bridging.

Connect adds Loan Engine to panel

Connect Mortgage Club has added secured loans master broker The Loans Engine to its panel.

Smart Money to add bridging services

Specialist distributor Smart Money will be adding full bridging support for intermediaries to its services from the New Year.

Capital Bridging Finance breaks £20m barrier

Short-term lender Capital Bridging Finance lent a record £20m in November.

miLoanbroker hits registration milestone

miLoan, the secured loans sourcing system provided by Y3S Loans, has registered its 6000th broker user.

Jack Simon joins Shawbrook

Shawbrook Bank has appointed Jack Simon as an outbound sales executive to its internal business development team.

Bridging needs transparency

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.

Brokers demand bridging transparency

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.

Henry Moser eyes £500m sale

Jerrold Holdings chief executive Henry Moser is weighing up selling his share in firm which is valued at over £500m, Sky News reported this morning.

66pc of brokers expect bridging to expand

Two thirds (66%) of brokers expect the bridging and short-term secured finance market to expand over the next three years, a United Trust Bank survey has revealed.

Loans Warehouse becomes NACFB patron

Loans Warehouse has become the first consumer finance specialist to become a patron of the NACFB.

Finance for development needs persistence

Alpha Bridging, the short term lender, is laying out the welcome mat for intermediaries with clients looking for finance for development who might have found it hard to find access to funding.

Fincorp funds festive children’s cards firm

A quarter of a million British children will have the chance to see their drawings on the cover of a Christmas card this Christmas, thanks to “old school” property lender Fincorp.

UTB completes £4.59m bespoke bridge

United Trust Bank has completed a £4.59m short term bridging loan for a High Net Worth SPF client, secured by way of second charges against a diverse range of security property including shares.

Smart Money bolsters sales support

Second charge specialist packager Smart Money has bolstered its internal sales team with the addition of Katy Leman to its underwriting department.

Rob Holt promoted at Shawbrook

Shawbrook Bank’s Rob Holt has been promoted to sales executive within the Commercial Division’s internal Sales Desk.

SPECIAL FEATURE: Bridging a more professional state of affairs

Matthew Anderson, director of Fincorp, says that there is no room for complacency when it comes to regulation of the bridging sector.

Vantage completes cycle challenge

Vantage Finance has completed a 10-day cycle challenge to raise £3,100 for The Brain Tumour Charity.

Brokers believe London market is ‘unhealthily overheated’

Nearly half of development finance brokers and developers see the London market as ‘unhealthily overheated’, research from United Trust Bank has revealed.

FSE2014: Boulger backs seconds

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.