Shawbrook Bank commercial mortgages has launched a digital application service – “E-AIP” – for residential investment products, allowing brokers to produce a hard credit backed IMO online.
Funding Circle has hired Neil Mullane, formerly head of business and corporate banking for Barclays across West London, as part of its business development and property finance team.
Belmont Green, the specialist lender headed up by industry bigwigs David Tweedy and Guy Batchelor, has opened a new office to allow it to double its workforce to 70 before launch.
Target Group has been appointed to provide standby servicing to Ratesetter, the peer-to-peer lending platform.
3mc offers access to a range of specialist lenders and exclusive mortgage deals, as well as support from its mortgage desk and 24/7 virtual mortgage desk which enables brokers to compare products and criteria from different lenders.
Conveyancing firm Beaumont Legal has appealed to the broker market to consider using their services, claiming a recent technology overhaul has drastically improved service.
The loans, which stand at 0.95% per month which is added to the loan, allow borrowers to fund 100% of property improvement works and 70% of the gross development value.
The pair, who are engaged in a Build to Rent partnership, have so far committed £250m of capital.
Annual HMO yields rose from 9.1% in Q4 2015 to 10.2% in Q1 2016, outstripping vanilla buy-to-let (5.8%), multi-unit freehold blocks (7.8%) and semi-commercial property (8.1%) returns.
The relationship which started in February 2014 has seen the specialist distributor offer The Right Mortgage’s members access to over 70 lenders’ products.