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 […]

Funding 365 cuts commercial bridging rates

Mon 29 Feb 2016

Bridging lender Funding 365 has reduced the starting interest rate for its commercial bridging loan product from 0.99% to 0.85% per month. The product, which is available to all brokers,  has a 3 to 12 month term and can be secured against commercial and semi-commercial properties across England and Wales. Funding 365 managing director Mike Strange said: “We are […]

Omni Capital rebrands to Fortwell Capital

Thu 25 Feb 2016

Real-estate lender Omni Capital Partners has rebranded to Fortwell Capital with immediate effect. As Fortwell Capital, the company remains a wholly-owned business of CPC Group and there will no change in personnel. Additionally the business continues to operate from its Hanover Square premises in central London. A spokesman said that Fortwell Capital’s product range will continue to serve […]

Bridging up as borrowers struggle to secure finance

Wed 24 Feb 2016

More and more brokers are turning to bridging loans as their clients continue to fail to secure mortgage finance, research from MTF’s quarterly broker sentiment survey reveals. Tomer Aboody, director of MTF, said: “Bridging finance is plugging a funding gap as borrowers find it more difficult to obtain loans from mainstream lenders implementing tougher affordability […]

LendInvest hires in-house counsel

Thu 21 Jan 2016

LendInvest has appointed an in-house legal counsel to help with regulatory changes and legal provisions. The online short-term property lender has hired Ruth Pearson from Simmons & Simmons where she was a managing associate in the banking team after joining as a trainee in 2007. She will work closely with the company’s heads of compliance […]