Double appointment for Dragonfly

Thu 5 May 2016

Dragonfly has hired Chris Holden and Lauren Gill as external business development managers. Holden will focus on the South of England and Gill will handle the West of England. D’mitri Zaprzala, head of sales at Dragonfly Property Finance, said: “Demand in London may have cooled down but the slack has been more than taken up […]

Bridging lenders warn brokers over lender over-reliance

Wed 4 May 2016

Bridging lenders have called on brokers to ensure that they are placing their business with the most suitable lenders for their clients following concerns raised about the mainstream mortgage market by the Financial Conduct Authority. Lynda Blackwell, mortgage sector manager at the FCA, expressed concerns that some mortgage brokers could be sending at least 80% of their cases […]

Precise parent rejects buyout bid

Wed 4 May 2016

The private equity firms hoping to buy Charter Court Bank at a knock-down price have been left disappointed after the bank’s investor, Elliott Associates rejected all bids this week. Charter Court, which owns Precise Mortgages and Exact, was on the market for £400m but it is believed that BC Partners, Varde Partners and Warburg Pincus […]

FCA: Brokers are over-relying on one lender

Wed 4 May 2016

Some brokers are sending 80% of their cases to just one lender while prompting the Financial Conduct Authority to warn brokers to review whether they are giving the most suitable advice. Lynda Blackwell, mortgage sector manager at the FCA, told intermediaries at the Mortgage Business Expo in Leeds that the regulator had been looking at […]

FCA: Bridging advice raising red flag

Tue 3 May 2016

The FCA has raised concerns that regulated bridging finance is being recommended to borrowers in instances where a mainstream mortgage product would have been more appropriate. Speaking to brokers at the Leeds Mortgage Business Expo Lynda Blackwell, mortgage sector manager at the Financial Conduct Authority, said: “The recent increase in bridging sales makes us worry that […]

FCA clarifies “independent” and referred advice

Tue 3 May 2016

The Financial Conduct Authority has confirmed that brokers who advise clients to take a second charge but rely on a master broker for the information can still call themselves independent. Speaking to brokers at the Leeds Mortgage Business Expo Lynda Blackwell, mortgage sector manager at the Financial Conduct Authority, said: “Can you keep the ‘independent’ […]

Masthaven COO retires

Fri 29 Apr 2016

Masthaven chief operating officer Stuart Aitken will retire in May 2016 to be replaced by Al Southall. Aitken has been with Masthaven since 2012 after working for the likes of Merrill Lynch, Kensington and Southern Pacific. Jon Hall, managing director of Masthaven Bank, said: “I would like to thank Stuart for all of his hard […]

Crystal Specialist Finance reports bumper first quarter

Thu 28 Apr 2016

Crystal Specialist Finance has issued terms on £401m worth of business from January to March this year as it saw a 96% increase in business levels. During the same three months completions rose by 153% across over 30 different lenders and the business extended its strategically important panel partnership agreement with leading network, The Right Mortgage. […]

LendInvest secures £40m funding line from Macquarie

Thu 28 Apr 2016

LendInvest has agreed a warehouse financing facility with global financial services provider Macquarie for an initial amount of £40m. The facility will allow LendInvest to continue its growth and consolidate its leading position in the UK short-term mortgage market. The Macquarie facility, which can be increased over time, is LendInvest’s fourth bank funding line and […]

NACFB gives expansion update

Wed 27 Apr 2016

The National Association of Consumer Finance Brokers has updated brokers on its expansion plans this year. The association is looking to take on additional manpower, having already advertised for personal assistant and office manager roles, while it is looking to move offices from Hamilton House to accommodate more people. The NACFB, which is supported by […]