HM Treasury figures show that the UK banking and finance industry has provided more than £75bn in support to over 1.6 million businesses through government-backed coronavirus lending schemes. More than 1.5 million small businesses have accessed the Bounce Back Loan Scheme (BBLS) over the past year. The Coronavirus Business Interruption Loan Scheme (CBILS) has provided […]
Pluto Finance has announced that it has been accredited by the British Business Bank as a new lender under the Coronavirus Business Interruption Loan Scheme (CBILS), providing term bridge loans from £3m + for property developers. Justin Faiz, partner at Pluto Finance, comments: “We have been working with British Business Bank over the past six […]
Sales of holiday homes near the coast have surged over the past six months with holiday let mortgages for properties in Wales almost doubling since September 2020. Figures from Hodge Bank have revealed the most popular destination for holiday let buyers is the South West at 39%, followed by Wales at 19% and the North […]
Barclays data reveals a 31% increase in business scams in January and February, compared with the same period last year Property and Construction sector businesses warned to be on high alert after the sector fell victim to the most scams in 2020 (24%) Barclays has teamed up with football legend and TV presenter Dion Dublin […]
Allica Bank has made four appointments to its award-winning business relationship manager team to further strengthen its operational capacity in commercial property finance and asset finance lending. All four will be focused on developing Allica Bank’s broker distribution channel. Michael Mann and Maria Fraughan join the bank as business relationship managers, specialising in commercial mortgages. Michael has more than 20 years’ experience in the financial services industry across corporate and commercial markets, while Maria has worked […]
CAPSLOCK Education, a cyber-security education institute based in Manchester, has secured £540,000 in a pre-seed funding round from GC Angels, the Ufi VocTech Trust, Tynton Group, private angel investors and the UK government to reskill adults across the UK. Founded in 2019 by Jonathan Slater, Lorna Armitage and Dr Andrea Cullen, CAPSLOCK’s intensive training bootcamp […]
An Aspen Bridging integrated legal partner, Ola Leslie Solicitors stepped in at the eleventh hour to ensure a client completed their bridge in 10 days to save their £32k deposit. The developer, who had secured a three-bedroom terraced house in South East London for full refurbishment, had chosen to use his own legal representation but […]
Immersive communications platform PixelMax has secured £2m investment in a funding round led by Praetura Ventures, with participation from ACT Capital Partners. Manchester-based PixelMax uses 3D interactive technology to revolutionise the way content is delivered to mass audiences. It enables businesses to create and host their own virtual worlds, and is changing the way organisations […]
#3rdGen lender, Octane Capital, today announced it has partnered with the mortgage platform provider, Twenty7Tec. With immediate effect, intermediaries will be able to access Octane’s medium-term buy-to-let products and short-term bridging solutions via Twenty7Tec’s SOURCE module. Octane’s ground-breaking buy-to-let products, which involve zero stress testing, are proving especially popular with brokers at present given the […]
A new guide has been launched to help businesses understand the potential impact of the end of LIBOR*, a benchmark banks and lenders use to calculate the interest rate for financial products. As LIBOR is the most common interest rate benchmark in the UK, the transition to alternative rates will impact a significant proportion of […]
