ASTL16: Regulator surprised at bridging sector quality

Thu 22 Sep 2016

The Financial Conduct Authority has found the quality of the bridging lenders under their auspices much better than it had expected, according to a top regulator.  Lynda Blackwell, mortgage sector manager at Financial Conduct Authority, said the quality of both regulated lenders and deals was “really good” and “not what was expected”. Blackwell confirmed that […]

ASTL16: FCA concerned about unregulated bridging

Thu 22 Sep 2016

The regulator has fired a warning shot across the bows of the unregulated bridging sector after reports of bad practice and active efforts to circumvent regulation were raised with the FCA. Speaking at the Association of Short Term Lenders conference today the regulators mortgage sector manager praised the regulated side of the market but was damning […]

UTB hires Robert Owen as managing director of mortgages and bridging

Mon 19 Sep 2016

United Trust Bank has hired Robert Owen as managing director of mortgages and bridging. Owen (pictured) has been with the bank since April 2015 and was responsible for its specialised mortgages division. His previous roles include being chief executive of Central Trust, while he has also been the CEO of West Brom Building Society’s subsidiary […]

Together partners with TBMC

Mon 19 Sep 2016

Together has partnered with TBMC – the buy-to-let and commercial packager. TBMC will focus on auction finance, bridging and commercial second charges. Gary Bailey (pictured), sales director at Together, said: “We work with a broad network of brokers and packagers and are constantly looking to expand this with the right partners, so we’re delighted to […]

Together achieves £1bn of lending in 2016

Fri 16 Sep 2016

Together’s annual lending topped £1bn in 2016 – a 39.5% rise on the previous year. In the process the specialist lender made £90.3m profit, an increase of 20.8% from 2015. Mike McTighe, group chairman at Together, said: “These record results affirm the positive position the business is in. Trading has remained strong; both in terms […]

Ortus secures additional funding

Thu 15 Sep 2016

Ortus Secured Finance has received a second funding round of £20m. The increase in funding brings the total amount of the secured lender’s new fund to £60m. In the second round of funding a number of original investors increased their initial stakes in the fund and £5m investment came from a global real estate investor. The […]

LendInvest launch non-profit development academy

Wed 14 Sep 2016

LendInvest has launched a non-profit academy designed to teach aspiring small-scale developers the skills they need to build more homes. With the UK needing 300,000 new homes every year to meet demand, whilst only 170,000 were completed in 2015, LendInvest said there is a need for entrepreneurial, independent and small-scale developers who can help fill a gap. […]

ASTL releases full conference lineup

Fri 9 Sep 2016

The Association of Short Term Lenders has released its full speaker lineup for its annual conference at Painters’ Hall in the City of London on 22 September from 9am-1pm. The event is entitled ‘Lending in an Uncertain World’ and will look at the events facing bridging and short-term lending. The ASTL will invite Savills’ director […]

Hampshire Trust bank funds £1.9m refurb

Wed 7 Sep 2016

Hampshire Trust Bank’s commercial mortgages division has provided a £1.9m loan to finance a heavy refurbishment project. The application was submitted by Hertfordshire-based broker Platinum Options on behalf of a client who was looking to build another floor on an existing development. Danny Antoniou, director at Platinum Options, said: “I can only comment on what […]

Shawbrook completes refinance and capital raise in 17 days

Wed 7 Sep 2016

Shawbrook Bank’s commercial mortgages team has completed a refinance and capital raise deal 17 days after issuing the electronic agreement in principle. The deal used Shawbrook’s RI0.2 product for simple residential investment at 76% LTV for £151,500 and was completed by the bank’s broker partner Alderbrook Financial. Emma Cox, sales director for Shawbrook Commercial Mortgages, […]