Commercial Finance

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 […]

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 […]

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 […]

Ortus targets NI with new commercial funding

Sun 14 Feb 2016

Ortus Secured Finance, the London-based commercial lender, has raised a new fund to lend £40m to leisure businesses across the UK and against Northern Irish commercial property. The fund will specialise in lending to pubs, hotels and nightclubs across the UK which require short-term finance, for instance to help them cover costs incurred through sudden […]

Aldermore restructures commercial team

Thu 21 Jan 2016

Aldermore has restructured its commercial lending division with the appointments of Gareth Claxton as national sales manager and Mark Pagett as lending development manager. After originally being appointed as head of commercial mortgage lending in January 2014 in the new role Claxton will manage the entire field based commercial lending team, deliver the bank’s commercial […]

Commercial transactions reach 2008 level

Thu 21 Jan 2016

December 2015 saw 9,700 seasonally adjusted commercial property transactions, the highest December levels since 2007, figures from HMRC showed. For the year as a whole there were 117,050 commercial transactions – the highest level since 2007 and 0.4% higher than the 116,620 recorded in 2008. Andrew Lloyd, managing director of Search Acumen, said: “The commercial […]

InterBay launches refurb HMO deal

Wed 20 Jan 2016

InterBay Commercial, part of the OneSavings Bank, has launched a refurb deal for houses in multiple occupation and cut rates across buy-to-let refurb products. The lender has also extended interest roll up periods for medium and heavy refurb and introduced a new exit facility that enables borrowers to take a HMO buy-to-let product priced the […]