A significant amount of intermediaries still don’t know how much a bridging loan costs. It is therefore imperative the industry remains transparent to make the cost of bridging finance as a clear as possible, particularly in a time of regulatory change and scrutiny, including the MCD which is now well underway. Bridging loans are a […]
Mipim 2016 is now a distant memory and the hard slog that is the most anticipated and attended property conference of the year was, in my opinion, a success for the short-term lending market. I have made the trip to Cannes for the past three years. My first came as a shock, even though I […]
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 […]
Octopus Investments has launched a peer-to-peer lending product backing loans sourced by its specialist lender Dragonfly Property Finance. The product, called Octopus Choice, will sit in the middle of the risk profile between savings accounts and stocks and shares as the loans are backed by property. Returns will be higher than savings accounts but worse […]
United Trust Bank has launched a new flexible ‘Residential Property Improvement Loans’ aimed at experienced property professionals. The product offers experienced property professionals a choice of competitive loan options; funding both the improvement works and acquisition costs or alternatively, just the acquisition costs. The facilities are suitable for developers wishing to carry out a range […]
Shakespeare Martineau LLP has joined the Association of Short Term Lenders as an associate member. The association’s membership has risen from 25 members and 12 associate members in April 2014 to 34 members and 24 associate members. Richard Ellison, partner at Shakespeare Martineau, said: “We strive to make a real difference by offering our clients […]
Century Capital has completed a hat trick of new loans today. In what it called a “terrific Tuesday” the lender completed a £1.1m second charge on £6m property in Notting Hill, a £1.5m firstcharge on £2.5m property in prime West Sussex and a £500k first charge on an £800k property in Ealing. Victoria George, Century’s marketing and PR manager, said: “Our […]
The second charge mortgage market reported new business growth of 40% by value and 17% by volume – the fifth consecutive month of double-digit volumes growth. Figures released today by the Finance & Leasing Association also showed consumer finance grew 22% over the year to February. Credit card and personal loan new business together grew […]
Clever Lending has told directly authorised advisers to make up their minds on whether they go for an advised or packaged route. Advisers can choose to remain ‘independent’ and offer the client loan advice from the whole of market by passing the case onto the master broker to package and deal with the lender direct. […]
Roma Finance increased its lending volumes by 300% year-on-year to the first quarter of 2016. The bridging lender, which was established in 2008, said it wanted to triple its lending this year. Scott Marshall, a director at Roma Finance, said: “We have been fortunate that the market has worked in our favour with the tax […]