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Bridging and Commercial News

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.

Sepsis Ball raises over ?30,000

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 boosts proc fees

Hope Capital is adding an additional 50% to its procuration fees to celebrate its third birthday.

ASTL2014: Sinclair: proc fees to hit 0.40pc by year end

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, writes Ryan Fowler.

ASTL2014: Lenders could abandon Scotland

Lenders could abandon Scotland if it votes yes on independence on Thursday, Andrew Stoneman of Advisory firm Duff & Phelps has warned, writes Ryan Fowler.

ASTL2014: FCA supportive of bridging qualification

Lynda Blackwell, mortgage policy manager at the FCA, has come out in support of an industrywide qualification for the bridging industry, writes Ryan Fowler.

ASTL 2014: Concerns raised about FCA intelligence

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, writes Ryan...

ASTL2014: FCA still concerned by bridging

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, writes Ryan Fowler.

ASTL2014: FCA seconds consultation out this month

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, writes...

ASTL2014: Government may miss chance on regulation

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, writes Ryan Fowler.

Shawbrook non-rep deal to include limited companies

Shawbrook Bank is extending its solicitor non-representation offering to include limited companies across all products on refinances, regardless of property type.

P2P lender Crowd2Fund launches

Tech entrepreneur Chris Hancock launches Crowd2Fund today – a crowdfunding platform built to support five different funding models including debt and equity.

SPECIAL FEATURE: The rise of vanity bridging

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 to launch new split brand

Bridgebank Capital are set to make an exciting announcement this week regarding the launch of a new split brand.

ASTL appoints new executive committee

The Association of Short Term Lenders’ has appointed its new executive committee with three new members coming onboard.

Alternative Bridging does £10m in four weeks

Alternative Bridging completed loans totalling more than £10m between July and the beginning of August, the lender has revealed.

Bridging lending almost doubles in a year

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 ringfences £100m for NACFB members

Metro Bank has put aside £100m of facilities lending for members of the National Association of Commercial Finance Brokers.

Shawbrook makes monthly service performance public

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 to speak at ASTL conference

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 spurt for bridging industry

Growth in annual gross lending now stands at 24%, over the twelve months ending 1st July 2014, research from West One Loans reveals.

One in five bridging brokers expect 2014 rate rise

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.

Alpha Bridging appoints chairman

Intermediary lender Alpha Bridging has made Kenneth Hillen its new chairman.

Property bridging loans top investment league

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 unveils first commercial fix

Shawbrook Bank has launched its first ever range of fixed rate commercial mortgages with the option of 3, 4 or 5-year periods.

Second charge lending up 21pc

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 passes £1bn of lending

Dragonfly Property Finance has now lent more than £1bn since its launch in 2009.

Precise launches bridging product with zero facility fee

Precise Mortgages has launched a bridging product with a zero facility fee – normally 2% on the lenders’ bridging loans.

Jonathan Kane joins Capital Bridging

Jonathan Kane has taken up the newly created role of distribution manager at Capital Bridging.

UTB expands development finance team

United Trust Bank has appointed Adam Bovingdon and Steve Brigly as property development managers.

MTF Hoovers up Dyson

Millie Dyson has joined London-based bridging lender MT Finance as head of marketing and communications.

FCA to investigate banking options for SMEs

The FCA and the Competition and Markets Authority has recommended a full competition inquiry into the provision of business lending by banks.

Funding Circle receives additional investment

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.

ABC appoints business development director

Alternative Bridging Corporation has appointed Tanya Elmaz as business development director.