Category: Bridging
The firms that contribute to Bridging Trends reported that gross lending had dropped to £142.75m.
Rates start from 0.65% per month and loans are offered between £26,000 and £5m up to 75% loan-to-value.
Kuflink Bridging have appointed two senior underwriters and two case managers.
The security was a £20m loft-style studio development in a former Victorian warehouse in Hackney.
The pair set up Octopus in 2000 and raised funds for the company with no products, customers or office.
The South Wales-based group owns Y3S Loans, Y3S Bridging & Commercial, Chaseblue Loans, Y3S Private Clients, B2B Financial and Pink Pig Loans.
Consumers will be able to use the app to communicate with investors, brokers and introducers with an online profile.
They include Alex Upton from Castle Trust, Mike Strange from Funding 365, Matthew Tooth from LendInvest and Richard Deacon from Masthaven Bank.
The course will outline what it takes to make small-scale developments run smoothly, as it aims to help brokers add more value to clients requiring development finance.
Other rates stand at 0.75% per month to 60% LTV and 0.85% to 70% LTV – though the lender said introducers can get better terms if they refer large volumes of business.