Tag: Payam Azadi
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.”
All of the OneSavings Brands, including Kent Reliance, will be reporting to him.
The estate agent gives brokers a portion of the completion fee when their clients sell a property, while it encourages the buyer to use the same broker.
Knowledge Bank has started offering brokers the ability to perform criteria searches within bridging and commercial, after a six month trial with Connect for Intermediaries’ brokers.
Global specialist financier, Falcon Group, has become the first publicly-rated bridging finance lender in the UK, launching Falcon Bridging Finance.
Annual bridging completions are now close to £3.8bn after rising by 29.9% from Q4 2017 to Q1 2018, data from the Association of Short Term Lenders has found.
Specialist lender Masthaven has increased the loan-to-value for its prime bridging proposition from 70% to 75%, following broker feedback.
Payam Azadi, director at Niche Advice, said: “I’m surprised. That figure is quite large and I didn’t expect it but it makes sense why so many lenders are looking to get involved in bridging.”
Bridging lender Roma Finance has reported that the buy-to-let market is still popular with landlords running their portfolios as limited companies and using Special Purpose Vehicle (SPVs) to fund new acquisitions.