West One Loans the Bridging Finance provider has added a further member to their team. Amir Khan has joined the West One Loan’s team as a Key Account Manager. Amir has joined the business to assist with the roll-out of the West One Loan’s Buy-To-Let products, which takes West One Loans into a whole new…
Roma Finance the bridging and development finance lender has recently closed off a rebridge to acquire a development site. The property was originally purchased for £805k in December 2018 and the client had previously applied for, but was rejected, planning to erect two houses on the site. The client subsequently applied for on large, 6,000…
Landbay Has Record Month In October – the peer to peer finance lender has a record month. The news was tweeted from the official Landbay Twitter account, an image and a link to which is included below. We’ve had a treat of an October with a record month at Landbay! A big thank you to…
Castle Trust has revealed that the purpose-built student accommodation (PBSA) sector could be a “natural extension” to what it may offer in the future. The specialist lender — which currently only focuses on the residential sector — offers bespoke development finance solutions on a first charge basis. Simon Whitfield, head of development at Castle Trust…
Avamore Capital Completes its largest ever deal In May, the principal lender completed a £2.7m bridging loan with the borrower to purchase the property in Camberley, Surrey. More recently, Avamore converted the bridging loan into a full development facility at a rate of 6.5% pa, after dealing with four legal teams throughout the process. Due…
Aldermore has launched Asset Backer, a new online broker portal. The platform — which aims to simplify and improve the efficiency of transactions between SMEs and brokers — will allow intermediaries to: New proposals will be sent direct to Aldermore’s credit underwriters for review to streamline the overall process. Brokers can also track the status…
Octopus Real Estate almost doubled their lending record in October! Almost half of the deals in October were made outside of the capital, with London seeing a mixture of refinancing, acquisitions and equity release. Octopus Real Estate which recently opened its Manchester office — completed projects including land with planning, a hotel, an office and…
FinancialReporter.co.uk has recently reported that investor demand for bridging finance has continued, please see below for further details of this article. Via financialreporter.co.uk Matt Lenzie from Commercial Mortgages Broker said: “It is not surprising that bridging finance demand has continued, investors are pushing to acquire and flip properties quickly and bridging finance can be a…
Shawbrook Bank has announced that it is reducing its rates across its second charge range in a bid to improve its offering. Fixed rates will now start from 4.20%, with variable rates from 3.80%, on second charge products with LTV bandings between 65% and 85%. The specialist bank has also lowered its minimum property value…
Financial Report has recently reported the following (Via financialreporter.co.uk): “Using technology to overcome buy to let hurdles.” Historically speaking, due to the complexity and intricacies attached to many areas of specialist lending, the human underwriting factor has often overshadowed the influence of tech in these areas. However, many landlords, lenders and intermediaries are embracing a…
Gatehouse Bank is opening up its buy-to-let range to first-time buyers. The Bank has also widened its eligibility criteria for both buy-to-let and Home Purchase Plan (HPP) customers. HPPs are Shariah-compliant alternatives to traditional mortgages which carry no early payment charges. The changes mean UK contractors, in particular, will be more likely to be approved…
Master broker and packager Positive Lending has placed its 1,000 bridging loan case with specialist lender Precise Mortgages. Since Positive Lending started writing cases with Precise Mortgages in 2013, the two companies have helped customers access more than £250m in bridging finance. Paul McGonigle, chief executive of Positive Lending, said: “To reach this fantastic landmark,…
ING Bank has recently provided an overview of the UK housing market which makes for interesting reading, the full report is available here. In summary the UK property market appears to be splintered as demonstrated in the following graphic, with projected periods of growth in the north being forecasted by most market commentators, with anticipated reductions…
I was recently reading an article titled “Everyone is re-mortgaging and you should too” – link here. The summary from this article if you don’t fancy reading it all is as follows: lots of borrowers are on SVR (standard variable rates), the article sets out that there is potential for interest rates to rise – they…
