Bridging lending down in Q1

Wed 26 Apr 2017

Gross bridging lending slowed on a monthly and yearly basis in the first quarter of 2017. In Q1 2017 lending reached £118.79m, 5.5% lower than Q4 2016 (£125.66m) and down 5.23% from Q1 2016 (£125.35m). The Bridging Trends data comes from bridging lender MTF, packager Brightstar Financial and brokers Enness Private Clients, Positive Lending and […]

Telling Architectural agrees new facility with Aldermore

Wed 26 Apr 2017

Telling Architectural has agreed a new finance facility worth £1m with Aldermore. The company had a turnover of £5m in 2016 with this funding hoping to allow it to meet its projected targets. The West Midlands based developer and distributor was established in 2002 and serves clients in the UK and North America. Mike Wood, […]

Clever Lending appoints sales manager

Tue 25 Apr 2017

Master broker Clever Lending has appointed Scott Leach as sales manager. Leach worked for Enterprise Finance as a business development manager and has knowledge of second charge lending, bridging finance, commercial mortgages and complex buy-to-let cases. Leach said: “I am very excited to be working with such an innovative and dedicated team at Clever. My […]

Funding 365 reduces commercial bridging rates

Tue 25 Apr 2017

Funding 365 has announced it has cut the starting interest rate for its commercial bridging loan product from 0.85% pcm to 0.75% pcm. The product is available to all brokers and provides three to 12 month loans from £100,000 to over £5m secured against commercial and semi-commercial properties across England and Wales. The maximum loan-to-value […]

British consumers back British businesses following Article 50

Mon 24 Apr 2017

Over half (53%) of UK adults believe Brexit will open new opportunities for UK companies to expand globally, a survey from Asset Match has revealed. This figure rises to 65% among those aged 55 and over, and exactly half of respondents plan to make a conscious effort to spend money with British businesses. Over 55’s […]

Martin Gilsenan and Matt Rogers leave Fortwell

Mon 24 Apr 2017

Martin Gilsenan and Matt Rogers have left Fortwell Capital. Gilsenan, sales director and Rogers business development manager, have been at the lender for almost six years. Fortwell released a statement wishing best wishes and appreciation after they “contributed an immense amount to the success of Fortwell over the last six years.” The statement outlines these […]

Brian Rubins slams misleading bridging promotions

Fri 21 Apr 2017

The bridging industry should stop using misleading promotions to drum up business if it wants to be seen as professional. That was the view of director of Alternative Bridging Corporation director Brian Rubins (pictured). Rubins called out promotions such as ‘loans up to 90% LTV’, ‘interest from 0.5% per month’ and ‘completions in 24 hours’ for obscuring […]

F&P helps fund a sustainable future

Fri 21 Apr 2017

An anaerobic digestion plant is now up and running through support from peer-to-peer funding specialists F&P. BioDynamic UK was listed on a P2P platform and secured £1.5m needed to complete the project based in Colwick, Nottinghamshire. Maxwell Bagnall, owner of BioDynamic UK, said: “In our industry we have to be fast-moving otherwise subsidies and grants […]

Majority of brokers surprised by snap General Election

Thu 20 Apr 2017

Most intermediaries operating in property and asset finance did not expect Theresa May’s announcement of a snap General Election according to a poll by United Trust Bank. The broker sentiment poll, carried out at the beginning of April, showed that just 2% of brokers who participated expected the June election. The results also showed however that […]

Risk management and compliance prioritised by organisations

Wed 19 Apr 2017

Two thirds of organisations prioritise risk management and compliance over customer experience and operational responsiveness, research from Callcredit Information Group reveals. The study also showed that 17% of respondents said they have had a customer complaint about their affordability checks. The research was part of Callcredit’s New Affordability report which asked UK risk and customer […]