FSE Glasgow: Wrong call on Europe will harm market

Wed 16 Mar 2016

Making the wrong decision in the forthcoming European referendum could severely hamper both the mortgage and second charge markets, The Lending Channel MD Alistair Ewing has warned. Speaking at the Financial Services Expo in Glasgow Ewing said the impact of making a wrong decision could have serious consequences with the UK’s regulatory system set to […]

Amicus completes record £50m in February

Wed 16 Mar 2016

Amicus completed in excess of £50m in February – a record for the short-term lender.Amicus has set a £400m lending target for the whole of 2016. Keith Aldridge (pictured), its managing director, said: “It is very rewarding for us all at Amicus to exceed the £50m per month barrier and comforting for me as I […]

Together completes two week bridge

Wed 16 Mar 2016

Together and Creative Commercial Funding have completed a loan for £1.75m that saved a development with planning permission for 218 homes in Birmingham. The developer had committed a deposit of £1m and had an agreed forward sale which fell through at the last minute, leaving him at risk of losing both his deposit and the […]

LendInvest secures £17m from Skype founder

Mon 14 Mar 2016

LendInvest has secured a £17m equity investment from Atomico, the venture capital firm founded by Niklas Zennström. This is LendInvest’s second equity investment in nine months after its secured £22m from Chinese technology company Beijing Kunlun in June 2015. Christian Faes, co-founder and chief executive of LendInvest (pictured), said: “To receive this backing from Atomico […]

Borro hires Masthaven’s Brennan

Mon 14 Mar 2016

Steve Brennan (pictured), former head of credit at Masthaven Finance, has accepted a role as director of lending at asset finance and bridging lender Borro. He will be responsible for driving increased interaction between luxury asset and property lending and joins the lender on 21 March. Paul Aitken, chief executive of Borro, said: “Bringing Steve […]

Shawbrook completes £5.8m bridge

Mon 14 Mar 2016

Shawbrook has completed a £5.8m bridging loan to remortgage a 25 property portfolio. The loan passed through from offer to completion in 10 days at 70% loan-to-value. Steve Williams, partner at Bespoke Business Finance, said: “Shawbrook’s ability to process this case to completion within just over a fortnight of receiving the valuation report was very […]

Enterprise completes £4.3m with Together

Mon 14 Mar 2016

Enterprise Finance and Together completed £4.3m worth of second charge transactions in February. Enterprise said the rise in transactions was down to getting Mortgage Credit Directive compliant by March 21. Because of incoming regulation brokers are more likely to consider second charge loans alongside remortgages and further advances if they want to keep the label […]

Century Capital ups max loan size to £3m

Thu 10 Mar 2016

Short-term lender Century Capital has upped its maximum loan size from £2.5m to £3m. The short-term Mayfair-based lender increased the loan size to reflect its additional funding lines. Paul Munford, Century Capital’s chief executive, said:  “There is an increased demand for larger loans, especially on low leveraged prime property where clients are looking to take […]

Hampshire Trust to launch into bridging

Wed 9 Mar 2016

Hampshire Trust to is set to launch into the bridging market and has announced the details of its new bridging team. The team will be run by newly appointed head of bridging Colin Stevens with Iain McCarrell joining as senior underwriter. Colin Bell, managing director of commercial mortgages at Hampshire Trust Bank, said: “Bridging loans […]

CG Recovery joins ASTL

Mon 7 Mar 2016

The Association of Short Terms Lenders has a new associate member in CG Recovery, which offers business recovery and turnaround advice. The ASTL’s member count is now up to 34 with 24 associate members. Benson Hersch (pictured), chief executive of the ASTL said: “The growing diversity of the membership allows us to promote and protect […]