News

Exclusive: Prestige simplifies pricing, reduces rates and ups proc fees

Tue 21 Jun 2016

Second charge mortgage specialist Prestige Finance has simplified and enhanced its mortgage range by creating one simple competitive Prime range for loans up to £2.5m. The removal of separate pricing for its large loans now means all Prime deals, regardless of size, will benefit from the same set of terms. And Prestige Finance has reduced its Prime […]


Avamore Capital joins ASTL

Tue 21 Jun 2016

The Association of Short Term Lenders has made Avamore Capital its 35th member. The lender provides refurbishment and mezzanine short-term property loans in addition to bridging and senior loans. Benson Hersch, chief executive of the ASTL, said: “Since April 2011 when there were 18 lender members, the ASTL has continued to grow year on year. […]


Bridging Introducer: Why short-term finance is outpacing the mainstream market

Mon 20 Jun 2016

According to recent figures from the Association of Short Term Lenders, the number of bridging loans written in the first quarter of 2016 continued to rise. This increase in bridging lending activity is the result of more investors opting to secure short-term loans to finance property deals, highlighting how this type of finance is continuing […]


Asset based finance up 7% year-on-year

Mon 20 Jun 2016

The amount of finance secured by UK businesses against hard assets such as inventory, machinery and property has increased by 7% in the last year, from £3.38bn to £3.63bn, according to the Asset Based Finance Association. The ABFA said the rise in businesses securing asset based lending is part of the continued shift away from the […]


Brokers tied on Brexit decision

Mon 20 Jun 2016

When it comes to brokers the ‘Leave’ and ‘Remain’ campaigns are neck and neck as we move into the final three days before the EU Referendum, a poll from United Trust Bank has found. Over 200 finance brokers operating in the fields of bridging, development finance, asset finance and mortgages were polled last week and 45% said […]


LendInvest Completes three day bridge

Mon 20 Jun 2016

LendInvest has completed a £1.6m bridging loan within just three days on behalf of master broker First 4 Bridging. LendInvest stepped in after another lender had let the client down. The specialist lender delivered the required funding for two new-build properties and an adjoining piece of land in Redhill, Surrey to an incredibly tight deadline. […]


Dragonfly hits £2bn milestone

Fri 17 Jun 2016

Short- and medium-term lender Dragonfly Property Finance has passed £2bn of loan completions since its launch in 2009. During that period Dragonfly has incurred less than 0.1% of capital losses in the near seven years it has operated with redemptions approaching £1.4bn. In total, Dragonfly has made over 3700 transactions to a mixture of domestic and overseas […]


LendInvest brings in former OneSavings Bank chairman

Fri 17 Jun 2016

LendInvest has hired former OneSavings Bank executive chairman Stephan Wilcke as a senior adviser as it looks to broaden its mortgage proposition. Wilcke will be the first member of the lender’s newly formed ‘advisory board’, where he will advise LendInvest on its corporate strategy to maintain operating standards and extend into the broader mortgage market. […]


Bank holds rates but warns over Brexit – again

Thu 16 Jun 2016

The Bank of England held rates today at 0.5% but issued a stern warning over Brexit and said pound could fall, ‘perhaps sharply’, if UK votes to leave EU. In a statement it said: “As the Committee set out last month, the most significant risks to the MPC’s forecast concern the referendum. “A vote to […]


Regentsmead’s Bloom to head up Masthaven dev finance division

Thu 16 Jun 2016

Former Regentsmead chief executive James Bloom has joined the newly authorised Masthaven Bank as managing director of its development finance division. Bloom was at Regentsmead for almost 30-years and created its short-term Lending department before becoming a director and then chief executive. Jon Hall, managing director, Masthaven Bank, said: “It is a very exciting time for Masthaven Bank as […]