LendInvest launches first auction finance product

Wed 14 Dec 2016

LendInvest has launched its first distinct auction finance product to help brokers and borrowers prepare for the first auctions of 2017. The product, which is offered up to 75% loan-to-value, is designed for borrowers who need their deals to be fast-tracked by their lender to ensure certainty of funding within tight timeframes. It features a […]

new appointment

Together and SFS team up deal

Tue 13 Dec 2016

Specialist lender Together and Specialist Financial Services Limited have completed a regulated bridging loan of £1.07m with funding provided in four working days. The funding was for a couple who were emigrating to Canada and they risked losing their promised finance to purchase a home there when they were let down by another lender. SFS […]

Shawbrook cuts commercial and specialist buy-to-let rates

Tue 13 Dec 2016

Shawbrook has cut commercial and specialist buy-to-let rates by up to 1.06% and 0.96%. The lender is launching three loan-to-value tiers which will be available from Monday next week and will introduce separate coverage ratios for individual and corporate borrowers. Karen Bennett, managing director of Shawbrook Commercial, said: “We are confident that these rate reductions […]

Planning fee increase would help improve home building applications

Tue 13 Dec 2016

Planning cuts make the government’s housing targets impossible to meet, according to the vast majority of local authorities who also want to see a rise in fees. Nearly 90% of local authorities believe that a cash injection is needed as their resources are not sufficient to meet the target of a million new homes by […]

Positive Commercial Finance sees 62.5% increase in commercial lending

Mon 12 Dec 2016

Specialist commercial finance broker Positive Commercial Finance has seen a 62.5% increase in commercial mortgage lending in Q1 to Q3 2016 compared to the same period last year. Much of the increase in completions in the sector has come about because of the expertise and service provided by Positive, particularly when a client has been let […]

Bibby moves to new HQ

Mon 12 Dec 2016

Bibby Financial Services has moved its global headquarters to accommodate the business’s strategic growth plan over the coming years. BFS supports more than 10,000 businesses worldwide and has relocated its central support teams to Pembroke House, Banbury Business Park – an office previously occupied by Vodafone. Global chief executive of Bibby Financial Services David Postings […]

Norton Folgate rebrands as Amicus Asset Finance

Mon 12 Dec 2016

Asset finance and leasing specialist Norton Folgate has rebranded to Amicus Asset Finance and appointed industry veteran Jeremy Guilfoyle from Paragon Bank Business Finance. Guilfoyle joins as chief operating officer with a remit to drive structural transformation and innovation, including technical support, credit, payouts, collections, asset management and legal. Guilfoyle said: “Joining Amicus Asset Finance […]

UK’s richest struggle to secure credit

Mon 12 Dec 2016

Over a million of Britain’s high net worth individuals have been denied a loan or any form of credit over the past five years, according to research from Market Financial Solutions. The study found that 17% of HNWI’s have been unable to secure a credit card, bank loan, or commercial loan in a timely manner. […]

79% of consumers don’t know what a second charge is

Mon 12 Dec 2016

A staggering 79% of people in the UK don’t know what a second charge mortgage is, a survey from specialist lender Together has revealed. Of the minority who were aware what a second charge mortgage was, 23 per cent didn’t understand the difference between this and a remortgage. Despite the changes in the regulation and […]

Four in ten small firms affected by cashflow

Thu 8 Dec 2016

Research by Amicus has shown that four in ten (38%) small and medium sized businesses (SMEs) have suffered cashflow problems over the past two years. The figure rises to two thirds (65%) among medium sized firms with between 50 and 250 staff. Amicus Commercial Finance provides a revolving working capital facility based on a proprietary […]