Development Finance

Crystal Specialist Finance reports bumper first quarter

Thu 28 Apr 2016

Crystal Specialist Finance has issued terms on £401m worth of business from January to March this year as it saw a 96% increase in business levels. During the same three months completions rose by 153% across over 30 different lenders and the business extended its strategically important panel partnership agreement with leading network, The Right Mortgage. […]

LendInvest secures £40m funding line from Macquarie

Thu 28 Apr 2016

LendInvest has agreed a warehouse financing facility with global financial services provider Macquarie for an initial amount of £40m. The facility will allow LendInvest to continue its growth and consolidate its leading position in the UK short-term mortgage market. The Macquarie facility, which can be increased over time, is LendInvest’s fourth bank funding line and […]

NACFB gives expansion update

Wed 27 Apr 2016

The National Association of Consumer Finance Brokers has updated brokers on its expansion plans this year. The association is looking to take on additional manpower, having already advertised for personal assistant and office manager roles, while it is looking to move offices from Hamilton House to accommodate more people. The NACFB, which is supported by […]

LendInvest completes 14 development deals

Wed 27 Apr 2016

LendInvest has completed 14 development finance deals since launching its offering in December 2015. Its 14 deals ranged from £400,000 to £10m and its most successful month was March, where it completed a £5.85m conversion of an old commercial unit in North West London with a view to obtaining planning for residential conversion in three […]

LendInvest sees record month in March

Thu 7 Apr 2016

Peer-to-peer lender LendInvest has posted a record month, completing bridging loans worth over £50m during March. Matt Tooth, head of distribution at LendInvest, said: “From the moment the Chancellor announced that additional stamp duty would be charged on second homes back in the Autumn Statement, we knew that March would be a big month. “Property […]

Aldermore extends bridging to Scotland

Mon 4 Apr 2016

Aldermore has extended its bridging and property development lending into Scotland. The product range will provide property finance from development to refurbishment. The lender already offers products for residential, buy-to-let and commercial mortgages in Scotland. Charles Haresnape, group managing director of mortgages at Aldermore, said: “We’re delighted to offer bridging and property development in Scotland […]

Bank lending to developers halves in two years

Mon 21 Mar 2016

Bank lending to property developers is half what it was two years ago, down from £34bn in January 2014 to £16bn in January 2016, research claims. Funding Options, which calls itself an online business finance supermarket, said this funding shortfall is preventing property developers from starting new projects and could be contributing to the housing […]