Editor’s Pick

Shawbrook commercial appoints product manager

Mon 14 Mar 2016

Shawbrook Bank’s commercial division has hired Steven Fitzhugh as product manager, a newly created role. Fitzhugh has spent 22 years in financial services including 12 years at Leeds Building Society as an assistant product manager and product marketing team leader. He joined from Cardif Pinnacle as customer insight manager, where he carried out market analysis […]

Aldermore provides £3m facility for ex-Hovis site

Mon 14 Mar 2016

Aldermore has provided a £3m finance facility for the redevelopment of an ex-Hovis depot in Plymouth. The Honicknowle site, which was acquired by Burrington Estates, will be converted into both commercial and office space. It was a distribution centre after Hovis was acquired by Allied Foods. Caroline Baker, lending manager, commercial mortgages at Aldermore, said: […]

Borro hires Masthaven’s Brennan

Mon 14 Mar 2016

Steve Brennan (pictured), former head of credit at Masthaven Finance, has accepted a role as director of lending at asset finance and bridging lender Borro. He will be responsible for driving increased interaction between luxury asset and property lending and joins the lender on 21 March. Paul Aitken, chief executive of Borro, said: “Bringing Steve […]

Bridging up as borrowers struggle to secure finance

Wed 24 Feb 2016

More and more brokers are turning to bridging loans as their clients continue to fail to secure mortgage finance, research from MTF’s quarterly broker sentiment survey reveals. Tomer Aboody, director of MTF, said: “Bridging finance is plugging a funding gap as borrowers find it more difficult to obtain loans from mainstream lenders implementing tougher affordability […]

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 […]

Second charge repossessions at seven year low

Thu 11 Feb 2016

The number of second-charge mortgage repossessions hit the lowest level for at least seven years in 2015 with just 228 homes repossessed over the entire year, data from the  has shown. The final quarter of 2015 saw the biggest drop in repossessions when 33 properties were repossessed  – down 58.2% on the same quarter in 2014. […]