Together saves client with three-day turnaround

Thu 9 Jun 2016

Together and Crystal Specialist Finance have teamed up to help a client with a buy-to-let property purchase when a competitor lender had failed to deliver, leaving the client with just three days to complete the funding or lose the deal. The customer needed £91k to complete the purchase of a four bedroom residential bungalow as […]

Simon Cocker joins The Lending Channel

Wed 8 Jun 2016

The Lending Channel, the Perth-based specialist property finance broker, has recruited Simon Cocker as interim commercial director to help spearhead the next phase of its growth strategy. Simon Cocker joins the management team at the rapidly growing business at a very exciting time in their development. As well as a strong network of connections Cocker, […]

DIY landlords warned on tenancies

Wed 8 Jun 2016

Landlords who manage all aspects of tenancies on their own must be careful not to fall foul of the law, the Association of Independent Inventory Clerks has warned. Those who compile tenancy agreements and other important documents independently and without professional guidance could be inadvertently breaking the law. The AIIC draws attention to a study […]

Funding 365 completes £8.5m bridge in three days

Wed 8 Jun 2016

Funding 365 has completed an £8.5m bridging loan within three working days to save a borrower’s buy-to-let portfolio from being sold at auction. The borrower needed to re-finance very quickly as their high street lender had appointed an LPA receiver following a dispute and a number of its properties were due to be sold within days. The […]

Shawbrook cuts commercial rates

Wed 8 Jun 2016

Shawbrook’s Commercial Mortgages division has cut the rates on its commercial and semi-commercial product range for loans up to £10m. In addition it has also increased its loan-to-value buckets and extended its interest-only offering. Reduced rates across both commercial and semi-commercial product range include CI2 (semi-commercial) below 60% LTV which sees a 0.15% reduction, a 0.65% reduction on CI2 […]

Invoice finance platform moves to protect investors

Tue 7 Jun 2016

Online business finance marketplace Platform Black is now underwriting the first 10% of every invoice auction that takes place on its site and as such it will cover the first 10% of any losses faced by an investor. In addition to this, the business has also announced that it will also contribute a 1% financial interest in […]

Close Brothers: SMEs deeply concerned about economic outlook

Tue 7 Jun 2016

Britain’s small and medium-sized enterprises are deeply concerned about the outlook for the economy, new data from the Close Brothers Business Barometer has revealed. The research suggests SME confidence has actually fallen back since the beginning of the year, with businesses now buffeted by a broad range of headwinds. Only one in five SMEs in […]

Sesame and PMS launch buy-to-let exclusives

Tue 7 Jun 2016

Sesame and PMS have launched two exclusive buy-to-let 2-year fixed rate products via Leeds Building Society. The products, which have no early repayment charges, are a 2.55% fix until 31 August 2018 up to 60% LTV and the second is 2.99% fixed until 31 August 2018 up to 70% LTV. Both products include a free standard valuation […]

Shawbrook updates STL criteria

Mon 6 Jun 2016

Shawbrook Bank has updated its short-term loan criteria after a feedback campaign conducted with their panel of brokers. Required experience for STL 1-5 has been redefined to be ‘relevant experience’ rather than having to meet a prescriptive standard. Secondly, on STL 6-9 products Shawbrook requires experience in similar projects and had previously requested that this […]

North-South repossession gap narrows

Mon 6 Jun 2016

The North-South repossession gap closed by almost half in the last year, research from chartered surveyor e.surv has found. In 2015 repossessions fell to 2.1 per 1,000 households in the North and 1.4 in 1,000 in the South, down from 4.1 and 2.8 the year before. Repossessions fell by 51% year-on-year to total 19,672 in […]