Development Finance

One in five of London’s new homes are from smaller developers

Tue 7 Mar 2017

Small and medium sized developments (SMDs) account for two in three new build schemes in London’s pipeline, research by Kinleigh Folkard & Hayward (KFH) suggests. The London’s new homes landscape study highlighted however that despite this majority, only one in five of properties (19%) will be provided by these developments. According to the research, there […]

Magellan added to Black Book Finance lender panel

Tue 7 Mar 2017

Magellan Homeloans has joined the Black Book Finance lender panel. Black Book Finance launched in November last year and assists brokers with both mortgages and seconds; commercial and development deals as well as asset and invoice finance and specialist wrap services for new and existing landlords. Black Book Finance will offer a packaging service for […]

Octopus Property cuts refurb rates

Mon 6 Mar 2017

Octopus Property has reduced refurbishment product rates. Borrowers now have the choice of a product with a 0.8% interest rate per month with no exit fee or a 7% rate per year with a 2% exit fee. Both products come with a 2% arrangement fee. Mario Berti, chief executive of Octopus Property, said: “Demand for […]

LendInvest publishes a blueprint for change

Mon 6 Mar 2017

LendInvest is calling on the government to revise its treatment of small and medium sized property investment and development companies. In a new report, entitled Starting Small To Build More Homes: a blueprint for better policymaking for property SME market LendInvest brings together industry evidence to examine the root cause and impact of challenges faced by property […]

Camborne Land Investments acquires central Birmingham site

Fri 3 Mar 2017

Camborne Land Investments has acquired a central Birmingham site from Benacre Properties for a 500 unit build-to-rent residential project. The scheme will have a gross internal area of 450,000sq ft over 15 floors and a gross development value of £85-100m, including a range of one, two and three bedroom apartments. CLI regards the project as […]

Supreme Court rules in favour of developers on rates

Thu 2 Mar 2017

Properties undergoing redevelopment or major refurbishment could now be relieved from business rates payments while works are carried out, following a Supreme Court judgement. Yesterday the Supreme Court overturned a previous judgement by the Court of Appeal in which an office building that was undergoing redevelopment was deemed capable of occupation and therefore liable for full business […]

Pivot joins ASTL

Thu 2 Mar 2017

Pivot has become the latest lender to join the Association of Short Term Lenders. The specialist lender provides bridging and development finance secured against residential and commercial properties on a first and second charge basis. Benson Hersch (pictured), CEO of the ASTL, said: “Pivot is a welcome addition to our membership, bringing with it a wealth of […]

Paul Brett joins Landbay

Mon 27 Feb 2017

Paul Brett has joined peer-to-peer lending platform Landbay as managing director of intermediaries from Bracknell lender Foundation Home Loans. Brett (pictured) will be responsible for expanding the reach of Landbay’s products and strengthening relationships with key third parties. He said: “Landbay stood out as a company that is truly committed to its customers and the Intermediary […]

Magellan products now available via PMS

Mon 27 Feb 2017

Magellan Homeloans has reached agreement to make its full range of products available to members of the PMS Mortgage Club. Intermediaries will have access to Magellan’s complex prime and credit repair products designed for borrowers who are unable to obtain a mortgage from a high street lender. Jason Neale, sales director at Magellan Homeloans, said: […]

New home starts in England up by 5% last year, but completions fell

Fri 24 Feb 2017

The number of new homes started in England continued to rise last year and reached the highest level since 2007, the latest official data shows. Some 153,370 new homes were started in the year to December 2016, up 5% on the previous year and more than 140,500 homes were completed in the same period, according […]