Just 38% of lenders positive on UK economy

Tue 26 Apr 2016

Only 38% of bridging lenders feel more positive about the long-term prospects of the UK economy following the budget in March, the latest Association of Short Term Lenders sentiment survey has revealed. Additionally 19% of members and 20% of associate members feel less positive whilst 43% of members and 80% of associates expect no change. The figures […]

Lorenzo Satchell bags Together role

Mon 25 Apr 2016

Lorenzo Satchell has rejoined Together as a commercial relationship manager for the South and Central London after a spell at Finance 4 Business. Satchell (pictured) was divisional sales manager in the same area at Together from 2011 to 2015 before leaving to become managing director of F4B. He said: “It’s great to be back at […]

Masthaven Bank giving away 10% to its own employees

Mon 25 Apr 2016

Masthaven Bank will give away 10% of its shareholding to its own employees when it launches in the summer, its managing director Jon Hall has confirmed. Hall said around 80% of Masthaven’s employees will benefit by the time the bank is open for business, although staff will get a different number of shares depending on […]

57% of brokers want EU stay

Mon 25 Apr 2016

Over half (57%) of brokers want the UK to remain part of the European Union, an MTF poll has indicated. Just half that number again (29%) wanted a Brexit, with the rest (14%) unsure which way they will vote. The EU referendum vote will take place on 23 June 2016. Tomer Aboody, director of MTF, […]

Masthaven gets retail banking licence

Thu 21 Apr 2016

Masthaven Bank has become the first challenger bank of 2016 to be granted a retail banking licence.Borne out of Masthaven Finance the new digital bank aims to disrupt the market with a customer-led flexible savings and mortgage proposition and employee partnership structure.A spokesman said: “The authorisation of the banking licence by the Prudential Regulation Authority […]

Together reports record month for lending

Wed 20 Apr 2016

Specialist finance provider Together completed £105m of new lending last month through a total of 697 loans across its entire range. The lending was across all areas of the business,including first and second charges, bridging, auction finance and commercial loans. Commercial CEO Marc Goldberg said: “This is our highest monthly lending in our 42-year history, and is a direct […]

Ortus looks to double book

Wed 20 Apr 2016

Commercial bridging lender Ortus Secured Finance is planning to double its loan book in 18 months with a big push on short-term lending secured on commercial property throughout the UK, including Northern Ireland and Scotland. The lender, which has specialised in short-term finance for pub and hotel owners, revealed ambitious growth plans over the next […]

ASTL: Budget changes could hit home

Tue 19 Apr 2016

The problem that the Chancellor has in setting a Budget is that a small concession such as the freeze on fuel duty (static at 57.9p a litre for the past five years) is estimated to cost £2.2bn over the same period. The Chancellor said this would save the typical driver £75 in 2016/2017. Political and […]

Bridging Introducer: You must know your market

Tue 19 Apr 2016

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 […]

Bridging Introducer: Mipim debrief

Tue 19 Apr 2016

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 […]