Capital B offers an advised and packaged brokerage service, providing intermediaries with support for high net worth individuals with property development loans, bridging loans, commercial finance, buy-to-let and complex residential mortgages.
Designed to support intermediaries who have clients between properties and need a mortgage to support their move, the mortgage allows clients to take a term up to a maximum of two years with no early repayment charges.
Short-term lending transactions are also up 15% year-on-year.
The product covers bridging loans between £100,000 to £500,000 at a maximum 70% LTV at a rate of 0.6%. The term is 12 months and there are no exit fees.
Carling was previously with the likes of West One and Dragonfly and joins the master broker as head of operations.
More than 57% of bridging lenders said they were confident about the long-term future for the UK economy, compared to just 37% of those who in March last year.
The lender’s products both have a maximum LTV of 60% and are priced at 4.24% with a £1,499 fee and 4.99% with a lower fee of £499.
The facility is funding the construction of five, high specification, five-bedroom homes with each home covering 3,600 square feet in a highly desirable area of leafy Hampshire.
Chai is a fully qualified chartered management accountant and joins Octane from London-based Electra Private Equity, where he was group financial accountant. Prior to that he was a finance analyst at Everest covering multiple divisions.
Figures compiled by the ASTL’s auditors from its bridging lender members for the fourth quarter of last year show an increase in the value of loans completed, outstanding loan books and applications in 2018 from the year before.