Thursday 24 July 2014 | RSS Feed

Bridging and Commercial News

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.

£100m funding line for Capital Bridging Finance

Capital Bridging Finance has had an existing funding line with a major high street bank renewed and doubled to £100m.

SPECIAL FEATURE: Spotlight on Bristol property

Bridging lender Bath & West teamed up with Bristol estate agent Bluesky to help brokers understand the local development opportunities. B&W MD Martyn Smith reports

This old boy is worried about the block

Writing in a special feature Matthew Anderson, director of bridging lender Fincorp, says we must be careful not to wring the bridging market within an inch of its life

Masthaven strengthens underwriting team

Masthaven Secured Loans has appointed Krystle Clark to its underwriting department.

Bridging funds more homes than Help to Buy

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.

Secured market tops £250m in 2014

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.

NACFB 2014: Watershed moment for SME lending

SME lending by members of the NACFB has topped £1bn a month for the first time since 2007, NACFB chairman Marcus Grimshaw has announced.

False advertising undermining bridging professionalism

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 unveils 0.95pc refurb bridge

United Trust Bank has launched a short-term refurbishment product for experienced property refurbishers and developers.

Masthaven completes £1.6m deal with First4Bridging

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.

Montello tops £250m a year mark

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 star launches crowdfunding campaign

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.

SPECIAL FEATURE: Time to stop confusing the customer

Fincorp director Matthew Anderson looks at interest rates and the lack of clarity for the consumer

Hope Capital appoints HR specialist

Hope Capital has just appointed HR specialist Pauline O’Gorman to help support the running of the firm.

RBS director joins Bridgebank Capital

Steve Bryce, former director of the RBS property finance group commercial banking team, has joined Bridgebank Capital as head of credit risk as the bridging lender focuses more on larger advances.

Aldermore becomes AOBP associate lender

Aldermore Bank has joined the Association of Bridging Professionals as an associate lender.

Ezbob launch exceeds expectations

Ezbob, the online short-term commercial SME lender, has announced that its soft launch to intermediaries has exceeded expectations.

Clive Willson joins Brightstar as director of sales

Clive Willson has joined Essex-based Brightstar Financial as director of sales – just over a week since the specialist distributor was celebrating reaching £500m in specialist lending since its inception in 2011, writes Robyn...

Roma rescues renovation project

A stalling renovation project which was funded by Roma Finance after being purchased at auction has been sold for a significant profit.

Scott Apps joins Shawbrook Bank

Scott Apps has joined Shawbrook Bank’s commercial mortgages division as its new business development executive.

Interbay Commercial launches term refurb deal

Interbay Commercial has launched a term refurb loan product to its key partners after a market trial proved to be a success.

Shawbrook fixed rate products to go live July 2014

Shawbrook Bank will launch fixed rate products across its commercial mortgage products (short term loans excluded) in July.

Aldermore enters bridging market

Aldermore has entered the bridging market with a range of products which will be offered through packager Finance 4 Business.

Robert Sterling Surveyors joins ASTL

Robert Sterling Surveyors has become the ASTL’s latest associate member, taking the total number of full and associate members to 41.

The Crafty Cockney heads to NACFB

Eric Bristow, the five times world dart champion, will be on site at the NACFB Commercial Finance Expo on June 25 - giving delegates the chance to challenge 'The Crafty Cockney'.

SPECIAL FEATURE: London property prices will keep rising

Matthew Anderson, director at bridging lender Fincorp, looks at the London property market and considers if prices will keep rising.

John Jenkins joins Capital Bridging as CEO

John Jenkins has joined Capital Bridging’s as chief executive after spending eight years in the same role at GE Capital.

Young Charlie Latimer qualifies

Charlie Latimer, 26, the youngest member of the BLG’s new business team, has completed his MRICS qualification and become a fully qualified chartered planning and development surveyor.

Paxton open for business

Paxton Private Finance has increased its funding after securing a new £30m funding line from an undisclosed private individual.

Phillip Bond joins Smart Money

Specialist second charge distributor Smart Money has appointed Phillip Bond as compliance director.

MSL receives positive broker reviews

Masthaven Secured Loans, which has instigated a survey among its introducers to provide regular feedback on its performance, has reported a fundamental thumbs up in terms of its service and flexibility.

Smith: Mainstream bridging lenders are missing a trick

Mainstream bridging lenders are so heavily focused on deals in London they’re missing out on opportunities to lend in other areas of the country with strong property prospects.

SPECIAL FEATURE: Signs of an overheating market

Matthew Anderson, director, Fincorp, looks at the current vogue for development finance and considers if it could be a warning that the market is overheating

Alternative Bridging unveils low rate product

Short-term lender Alternative Bridging has launched a low rate product for commercial and residential property loans.

Smart Money Loans rebrands as Smart Money

Smart Money Loans, the specialist second charge distributor, has rebranded as Smart Money with a new logo and sales and marketing material for introducing brokers.

Bridgebank launches mobile website

Bridgebank Capital has launched a mobile website for brokers, complete with a redeveloped application platform.

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.