We have seen a notable number of investors purchasing a property owned by a relative. This often comes with the added benefit of being able to land that property at a price below what they may have paid if purchasing from a stranger if purchasing through the regular process.
Adam Butler, relationship manager at Avamore Capital, said: “Sophia is going to bring new energy to the origination team at Avamore."
Deals ranged from a £4.5m development exit loan secured against a detached development in Kent to a £210,000 light development deal on a detached property in Norfolk.
Looking forward, Paragon said it will focus on expanding its geographical presence to support housebuilders across England, complementing its core southern market.
Connect specialises in buy-to-let (BTL), which includes servicing the expat, foreign national and Shariah-compliant markets.
In March, following the repayment of £300m from its loan book and a new capital injection, the specialist property lender put a target in place for a total of £600m of new lending for the remainder of 2021.
Pocket is an private developer that focuses on delivering intermediate housing for the starter market, which is secured as affordable in perpetuity and sold outright to people on low to moderate incomes.
The number of new agreements in May was 1,910, and the value of new business was £84m.
The £402,000 Light Development bridge, which includes £100,000 works in arrears, was secured at 75% LTV.
Glenhawk is working with Finastra as it seeks to drive customer engagement in order to support its loan book growth ambitions and expand its UK footprint.