Under the terms of the latest agreement, the comprehensive VAS Panel database will be used on all commercial loan security valuations to ensure the most relevant third-party RICS-qualified surveyors are instructed based on location, deal type and value.
Bloom said: “We’re in a tough market with a number of mortgage lenders withdrawing from the market. When it’s more difficult to get traditional finance, people turn to alternatives and bridging comes into its own so brokers should definitely add this to their toolkit.”
It has promoted sales advisor Ewan Duncan from sales advisor to business development manager and Luke Hosea from senior sales advisor to sales manager.
Rogers (pictured) is a qualified chartered management accountant, having held senior treasury and finance positions at Kensington Mortgages, RBS and Barclays.
It has hired Peter Coombes to cover Brighton, Bromley, Croydon, Canterbury, Dartford, Rochester, Redhill, South East London and Tunbridge Wells postcodes and Stuart Ottery for the Bath, Bristol, Cardiff, Exeter, Gloucester, Newport, Oxford, Swansea, Swindon and Taunton postcodes.
It will progress with no building surveyor required where works are sufficiently advanced. The product is available up to 80% LTV from day one with rates starting at 0.49% per calendar month.
The borrower had a strong track record in securing complex, value enhancing planning permissions for the development and subsequent rental of properties for the holiday market but needed the capital to complete the development of a large farmhouse and numerous out-buildings.
Currently a Mr Tyre storage facility, the prime 3.6 acre site has planning consent to deliver a mixed-use scheme comprising 395 apartments for rent, including 38 affordable units, all finished to a very high specification.
Launching in 2019, LendInvest’s first home loan product will be available to homeowners that require short-term bridging finance for terms up to 12 months.
Glenhawk has enjoyed a strong start to 2019, originating a record £200m of enquiries