Y3S Bridging & Commercial has bought out competitor FTO Bridging Loans.
Shawbrook strategic partner “Crystal Finance” has completed a refurbishment deal on Shawbrook’s “100% of refurbishment costs lending” product.
Maximum LTVs was in the top five of almost every one of the eight different lending types that Knowledge Bank enables brokers to search on, its Criteria Activity Tracker for October has found.
Young didn’t comment on suggestions it could eventually go into later life lending after hiring Steve Cox from Hodge Lifetime.
The lender has also reduced all commercial and semi commercial term product rates by 0.25%.
The agreement gives members of The Right Mortgage & Protection Network access to Brightstar’s expertise and distribution of specialist residential, buy-to-let and second charge mortgages, short-term, commercial and development finance.
The product allows them to undertake refurbishment or carry out minor development before switching to one of LendInvest’s buy-to-let mortgages.
The specialist lender, which was founded 44 years ago, has removed exit fees for unregulated bridging loans over £50,000, while making its lowest ever rate of 0.49% available over 12 months at 50% loan-to-value.
Peer-to-peer lender Assetz Capital has agreed a deal with Connect for Intermediaries to be the first network that it distributes its products.
Shawbrook has appointed Amanda Meadows and Shrena Patel as business development managers for its commercial mortgages sale team.