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Category: Bridging

The bank aims to provide more than £1.5bn of business lending over the next five years, with plans to also launch both business and personal savings accounts later this year.

Adam Tyler, executive chairman at FIBA, said: “Ascot Bridging is a forward-thinking business, tuned in to the needs of a wide section of the short-term lending market in which our members work.”

The lender saw Q4 average monthly originations increase 17.1% on Q3 to £146.9m.

launch products limited edition

The new offering provides borrowers with interest rates from 0.54% up to 65% loan-to-value (LTV), with a loan on properties worth up to £500,000.

Barnes, who has been at Mortgages for Business for two years, will report into COO Gavin Richardson and will be responsible for both packaging and deal placement.

CrowdProperty has funded the development of 1,501 homes, worth £297m, originating £181m of agreed facilities and lending £141,000,000 to date.

Loan to gross development value (LTGDV) are now available up to 70%, loan to cost (LTC) is upped to 90% and day one maximum loan-to-values (LTV) go up to 70%.

Stuart Benge (pictured) is among the new recruits having joined the bank from Assetz Capital.

FIBA adds Reim Capital to lender panel

Specialist finance trade body FIBA has appointed SME specialist lender Hilltop Credit Partners to its panel.

Glenhawk is the first bridging lender in the UK to gain certification to internationally recognised PAS 2060 Specification from the Carbon Trust.