Development Finance

Octopus Property ‘taking a break’ from buy-to-let

Thu 15 Nov 2018

Octopus Property has stopped receiving new buy-to-let applications until sometime in the New Year. A note on the lender’s website reads: “Our buy-to-let products are taking a break, but don’t worry, they’ll be back in the New Year.” An Octopus spokeswoman said: “Following a very successful relaunch of our residential and commercial term loan products […]

Y3S Bridging & Commercial buys out FTO Bridging Loans

Thu 8 Nov 2018

Y3S Bridging & Commercial has bought out competitor FTO Bridging Loans. The company now offers, first charge mortgages, second charge loans, residential bridging loans, commercial bridging loans, commercial mortgages, development finance and unsecured business loans A spokesperson from Y3S Bridging & Commercial, said: “We aim to deliver bespoke, service driven solutions for as many specialist […]

Mint Bridging secures £842,000 development loan in three weeks

Mon 5 Nov 2018

Bridging lender Mint Bridging has secured an £842,000 finance deal in under three weeks. The client’s objective was to complete the purchase of a chalet style bungalow and once purchased, obtain development finance to redevelop the property. When they realised this set up wouldn’t be commercially or financially viable, the broker contacted Mint Bridging for advice which […]

Shawbrook funds £1.2m capital raise on new development in Dorset

Wed 24 Oct 2018

Shawbrook funded a £1.2m capital raise on a new development in Dorset. Strategic Partner “Laybourne Finance” approached Shawbrook with a case from an experienced developer who had recently completed a new build development of six flats in Dorset. The client was looking to redeem his existing development finance and release some capital for their next […]

Oblix Capital provides £3.1 development finance for homes in Cardiff

Tue 23 Oct 2018

Oblix Capital has provided a £3.1m facility to fund a site acquisition and subsequent development of eight luxury homes situated just outside of Cardiff. With numerous complexities and some extremely tight deadlines surrounding the case, Oblix Capital were approached by specialist broker, Sirius Property Finance, who also advised on the deal, after another lender couldn’t […]

Former Cogress CFO joins Magnet Capital

Wed 10 Oct 2018

Former Cogress chief financial officer Paul Israel has joined Magnet Capital as co-founder and chief financial officer ahead of its launch into the broker market on October 22. Israel was part of Cogress from its foundation in 2014 until 2017, during which he created its business plan, helped Cogress launch its first 35 property projects […]

Russell Martin takes reins of bridging and development team for Finance 4 Business

Wed 10 Oct 2018

Russell Martin, founder and chief executive of specialist finance broker, Finance 4 Business, will take the reins of its bridging and development team after Dave Fathers left to join Primus Finance as head of bridging. Martin said: “We’ve recently launched a major national radio campaign and this, along with a continued focus on developing relationships with our intermediary partners, has […]