Commercial Finance

Shawbrook updates STL criteria

Mon 6 Jun 2016

Shawbrook Bank has updated its short-term loan criteria after a feedback campaign conducted with their panel of brokers. Required experience for STL 1-5 has been redefined to be ‘relevant experience’ rather than having to meet a prescriptive standard. Secondly, on STL 6-9 products Shawbrook requires experience in similar projects and had previously requested that this […]

LendInvest revamps bridging range

Thu 2 Jun 2016

LendInvest has revamped its bridging range by  splitting its offering into three separate tiers. Residential cases that meet the criteria for tier 1 will enjoy rates from as low as 0.65% through to 0.95% per month at the maximum 75% loan-to-value. Residential cases that fall outside of this criteria – for example, HMOs, heavy refurbishments and […]

Investors turn to commercial and HMOs for yields

Wed 1 Jun 2016

Investors are increasingly looking at HMOs in addition to commercial and semi-commercial properties to expand their portfolios, research from Mortgages for Business has shown. Three in 10 (28%) investors are considering purchasing HMOs in the next six months, up from just 10% six months ago. Despite the cooling effect of the 3% stamp duty surcharge […]

EasySource goes live

Wed 1 Jun 2016

EasySource, the sourcing system from Brightstar, has gone live. The system, which has been two years in the making, has been developed with the aim to “revolutionise the way that brokers search for loans and mortgages”. EasySource makes it possible to search across different product types for the very first time. EasySource’s technology will make it easier for […]

TFC Homeloans launches QuickSearch

Tue 31 May 2016

Distributor TFC Homeloans has launched a specialist sourcing tool called QuickSearch powered by APAC Systems. Using the tool – which has been tested for a year – brokers can answer 20 questions about their client’s details and needs before comparing all specialist product types in one place including mortgages, second charge loans, bridging finance, commercial […]

Bridging can be used to rekindle other sectors

Tue 31 May 2016

The West One Bridging Index shows a huge rebound in bridging lending since 2010’s post-crash slump of £700m, rising 500% to £3.5bn in 2015. It’s true that residential was historically bridging’s bread and butter, and today it remains significant at 55% of lending. Consequently, the rebound in bridging has in some part followed the recovery […]

Together appoints commercial finance director

Tue 31 May 2016

Together has hired Helga Wright as commercial finance director. Wright(pictured) joins from the Co-operative Bank, where she was financial director of the retail, commercial and business banking businesses. She has a career in financial services spanning nearly 20 years, having held senior roles with Lloyds Bank for nine years. Wright said: “Together is experiencing exceptional […]

The Mortgage Partnership links up with Dudley BS

Thu 26 May 2016

The Mortgage Partnership (TMP) has signed a distribution deal with Dudley Building Society. North-West based packager TMP offers intermediaries access to specialist first charge, buy-to-let, second charge, commercial finance and bridging Ian Ward, TMP’s managing director, said: “We are delighted to be able to offer the Dudley Building Society’s products to our introducers. “They fill […]

Almost 60% of midsize businesses looking to borrow

Wed 25 May 2016

Some 57% of finance directors are looking to borrow money for their midsize businesses within the next two years, according to research from Nucleus Commercial Finance. Nucleus commissioned research agency Harries Interactive to interview 30 FDs at midsize companies and it found that within the next two years, 57% of FDs are planning on borrowing money […]

NACFB issues flatpack lender warning

Wed 25 May 2016

The National Association of Commercial Finance Brokers has warned SME’s about the increasing number of opportunistic lenders and ‘flatpack’ finance providers coming to market. Over the past two years, the NACFB has turned down 40 lenders for membership – 60% of which were rejected due to the lack of experience of their principals, specifically related to management and underwriting. […]